Medtronic (NYSE:MDT) updated its FY 2020 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.54-5.60 for the period, compared to the Thomson Reuters consensus estimate of $5.48.
Several research firms have recently issued reports on MDT. Zacks Investment Research upgraded Medtronic from a sell rating to a hold rating in a research report on Monday, May 20th. Morgan Stanley boosted their target price on Medtronic from $105.00 to $111.00 and gave the stock an equal weight rating in a research report on Wednesday. BTIG Research boosted their price objective on Medtronic to $120.00 and gave the company a buy rating in a research report on Wednesday. Oppenheimer boosted their price objective on Medtronic from $110.00 to $118.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Needham & Company LLC reiterated a buy rating on shares of Medtronic in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Medtronic currently has an average rating of Buy and a consensus price target of $112.18.
Shares of MDT opened at $107.79 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.59. The stock has a 50 day simple moving average of $101.30 and a 200 day simple moving average of $93.87. Medtronic has a 52-week low of $81.66 and a 52-week high of $109.70. The firm has a market capitalization of $139.72 billion, a PE ratio of 20.65, a P/E/G ratio of 2.67 and a beta of 0.67.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The business had revenue of $7.49 billion during the quarter, compared to analyst estimates of $7.40 billion. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. Medtronic’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. Equities research analysts predict that Medtronic will post 5.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were paid a $0.54 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.16 annualized dividend and a yield of 2.00%. Medtronic’s payout ratio is presently 41.38%.
In other Medtronic news, EVP Hoedt Rob Ten sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total value of $826,920.00. Following the sale, the executive vice president now owns 58,785 shares in the company, valued at approximately $5,401,165.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bradley E. Lerman sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $100.31, for a total value of $401,240.00. Following the completion of the sale, the senior vice president now owns 52,906 shares in the company, valued at approximately $5,307,000.86. The disclosure for this sale can be found here. Insiders sold a total of 95,701 shares of company stock worth $9,318,744 in the last 90 days. Company insiders own 0.28% of the company’s stock.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
Further Reading: What is the Ex-Dividend Date in Investing?
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