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.


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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.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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