Medtronic (NYSE:MDT) issued its quarterly earnings results on Monday. The medical technology company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.03, MarketWatch Earnings reports. Medtronic had a return on equity of 13.85% and a net margin of 12.29%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year.
Shares of Medtronic stock opened at $114.44 on Thursday. The stock has a fifty day simple moving average of $123.16 and a 200 day simple moving average of $126.17. Medtronic has a 12-month low of $110.06 and a 12-month high of $135.89. The company has a market capitalization of $153.80 billion, a P/E ratio of 40.01, a price-to-earnings-growth ratio of 3.09 and a beta of 0.76. The company has a current ratio of 2.89, a quick ratio of 2.34 and a debt-to-equity ratio of 0.50.
In other news, SVP Bradley E. Lerman sold 50,775 shares of the company’s stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $134.17, for a total transaction of $6,812,481.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bradley E. Lerman sold 49,147 shares of the stock in a transaction dated Thursday, September 30th. The stock was sold at an average price of $126.58, for a total value of $6,221,027.26. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.
Several brokerages have issued reports on MDT. Truist dropped their price target on Medtronic from $148.00 to $142.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price target on Medtronic from $144.00 to $137.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group boosted their price target on Medtronic from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Wednesday, August 25th. Stifel Nicolaus boosted their price target on Medtronic from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 25th. Finally, Credit Suisse Group boosted their price objective on Medtronic from $137.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, August 25th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Buy” and a consensus price target of $142.50.
Medtronic Company Profile
Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.
Recommended Story: What is an overbought condition?
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.