Medtronic (MDT) Scheduled to Post Quarterly Earnings on Tuesday

Medtronic (NYSE:MDT) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, August 20th. Analysts expect the company to announce earnings of $1.20 per share for the quarter. Medtronic has set its FY25 guidance at $5.40-$5.50 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The business had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. During the same quarter in the previous year, the business earned $1.57 earnings per share. Medtronic’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect Medtronic to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Medtronic Trading Up 1.1 %

Medtronic stock opened at $84.60 on Monday. The stock has a market capitalization of $108.48 billion, a P/E ratio of 30.76, a PEG ratio of 2.35 and a beta of 0.82. The stock has a 50-day simple moving average of $80.00 and a 200 day simple moving average of $82.30. Medtronic has a 52 week low of $68.84 and a 52 week high of $89.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is 101.82%.

Insider Transactions at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the transaction, the chief executive officer now owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, August 12th. Truist Financial decreased their price target on shares of Medtronic from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a research note on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $91.30.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.