Brokers

Brokers Offer Predictions for Medtronic plc’s Q1 2023 Earnings (NYSE:MDT)

Medtronic plc (NYSE:MDTGet Rating) – Research analysts at Oppenheimer reduced their Q1 2023 EPS estimates for shares of Medtronic in a research note issued to investors on Thursday, May 19th. Oppenheimer analyst S. Lichtman now anticipates that the medical technology company will earn $1.39 per share for the quarter, down from their previous estimate of $1.43. Oppenheimer also issued estimates for Medtronic’s Q2 2023 earnings at $1.36 EPS, Q3 2023 earnings at $1.42 EPS, Q4 2023 earnings at $1.60 EPS, FY2023 earnings at $5.77 EPS and FY2024 earnings at $6.35 EPS.

Several other equities analysts have also recently issued reports on MDT. Credit Suisse Group lowered their price objective on shares of Medtronic from $142.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 23rd. Needham & Company LLC reduced their price objective on shares of Medtronic from $128.00 to $124.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. SVB Leerink reissued a “market perform” rating on shares of Medtronic in a research report on Wednesday, April 13th. Citigroup cut their target price on shares of Medtronic from $127.00 to $120.00 in a research note on Tuesday. Finally, Raymond James dropped their price target on Medtronic from $127.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of “Buy” and a consensus target price of $127.76.

(Ad)

The budding lithium industry looks similar to early days of the oil boom. In fact, lithium has been called the “new oil.” As internal combustion engines give way to lithium-filled electric vehicle batteries, demand for the metal is skyrocketing. The U.S. is desperate for more domestic sources of lithium, and geologists are pointing to Nevada.

Shares of Medtronic stock opened at $102.75 on Friday. The business’s fifty day moving average price is $107.56 and its two-hundred day moving average price is $107.91. The company has a market capitalization of $137.84 billion, a P/E ratio of 28.31, a PEG ratio of 2.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.61 and a quick ratio of 2.10. Medtronic has a 1-year low of $98.38 and a 1-year high of $135.89. Medtronic (NYSE:MDTGet Rating) last posted its earnings results on Tuesday, February 22nd. The medical technology company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01. The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.91 billion. Medtronic had a net margin of 15.46% and a return on equity of 14.57%. Medtronic’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS.

Several institutional investors have recently made changes to their positions in MDT. Morgan Stanley lifted its position in shares of Medtronic by 8.2% in the 2nd quarter. Morgan Stanley now owns 13,000,437 shares of the medical technology company’s stock worth $1,613,745,000 after purchasing an additional 981,186 shares during the period. Center for Financial Planning Inc. raised its holdings in Medtronic by 5.1% in the third quarter. Center for Financial Planning Inc. now owns 3,013 shares of the medical technology company’s stock worth $378,000 after buying an additional 146 shares during the last quarter. CX Institutional lifted its position in Medtronic by 3.8% in the 3rd quarter. CX Institutional now owns 2,521 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 93 shares in the last quarter. Capital One Financial Corp bought a new position in shares of Medtronic during the third quarter valued at $212,000. Finally, OneAscent Wealth Management LLC bought a new stake in shares of Medtronic in the third quarter worth approximately $272,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.

In related news, SVP Carol A. Surface sold 6,000 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $105.30, for a total transaction of $631,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Karen L. Parkhill sold 682 shares of the stock in a transaction on Friday, March 18th. The stock was sold at an average price of $110.00, for a total value of $75,020.00. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, March 25th were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, March 24th. This represents a $2.52 dividend on an annualized basis and a yield of 2.45%. Medtronic’s payout ratio is currently 69.42%.

About Medtronic (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.

Featured Stories

Earnings History and Estimates for Medtronic (NYSE:MDT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Medtronic right now?

Before you consider Medtronic, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Medtronic wasn’t on the list.

While Medtronic currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.