Medtronic (NYSE:MDT – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.53-$5.65 for the period, compared to the consensus estimate of $5.82. The company issued revenue guidance of -.
Shares of NYSE:MDT opened at $105.54 on Thursday. Medtronic has a 52 week low of $98.38 and a 52 week high of $135.89. The company has a market cap of $141.59 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.34 and a beta of 0.74. The company has a quick ratio of 2.10, a current ratio of 2.61 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $107.40 and a 200-day simple moving average of $107.36.
Medtronic (NYSE:MDT – Get Rating) last issued its earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.04). Medtronic had a net margin of 15.46% and a return on equity of 14.57%. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.43 billion. During the same quarter in the previous year, the business posted $1.50 EPS. Medtronic’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts expect that Medtronic will post 5.66 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, March 25th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, March 24th. Medtronic’s dividend payout ratio is presently 69.42%.
A number of research analysts have commented on the company. Bank of America assumed coverage on Medtronic in a research note on Tuesday, March 1st. They set a buy rating on the stock. SVB Leerink reiterated a market perform rating on shares of Medtronic in a research note on Wednesday, April 13th. Needham & Company LLC cut their price target on Medtronic from $128.00 to $124.00 and set a buy rating on the stock in a research note on Wednesday, February 23rd. Cowen boosted their price target on Medtronic to $125.00 in a research note on Monday. Finally, Citigroup cut their price target on Medtronic from $127.00 to $120.00 in a research note on Tuesday, May 17th. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $126.52.
In other Medtronic news, CFO Karen L. Parkhill sold 682 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $110.00, for a total transaction of $75,020.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Carol A. Surface sold 6,000 shares of the company’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $105.30, for a total transaction of $631,800.00. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of MDT. Ulland Investment Advisors LLC bought a new stake in Medtronic in the fourth quarter worth $41,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Medtronic by 111.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 422 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 222 shares during the period. Fairfield Bush & CO. bought a new stake in Medtronic during the first quarter valued at about $47,000. Monolith Advisors bought a new stake in Medtronic during the fourth quarter valued at about $48,000. Finally, First Community Trust NA bought a new stake in Medtronic during the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.
Medtronic Company Profile (Get Rating)
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.
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