Medtronic (NYSE:MDT) Releases FY 2022 Earnings Guidance

Medtronic (NYSE:MDT) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $5.650-$5.750 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.710. The company issued revenue guidance of -.Medtronic also updated its FY22 guidance to $5.65-5.75 EPS.

MDT has been the subject of a number of research analyst reports. Raymond James increased their price target on shares of Medtronic from $135.00 to $142.00 and gave the stock an outperform rating in a research report on Wednesday, August 25th. BTIG Research cut Medtronic from a buy rating to a neutral rating in a research report on Monday, August 9th. Truist reduced their price objective on Medtronic from $148.00 to $142.00 and set a buy rating for the company in a research report on Wednesday. Citigroup reduced their price objective on Medtronic from $153.00 to $146.00 and set a buy rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus raised their target price on Medtronic from $140.00 to $145.00 and gave the stock a buy rating in a research report on Wednesday, August 25th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $142.50.

Shares of NYSE MDT traded up $1.06 during midday trading on Thursday, hitting $114.44. 5,588,711 shares of the stock traded hands, compared to its average volume of 4,477,333. The firm has a 50-day moving average of $123.16 and a two-hundred day moving average of $126.17. The firm has a market capitalization of $153.80 billion, a P/E ratio of 40.01, a PEG ratio of 3.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.34 and a current ratio of 2.89. Medtronic has a one year low of $110.06 and a one year high of $135.89.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 23rd. The medical technology company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.03. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.98 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that Medtronic will post 5.69 earnings per share for the current fiscal year.

In other Medtronic news, SVP Bradley E. Lerman sold 50,775 shares of the stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $134.17, for a total transaction of $6,812,481.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bradley E. Lerman sold 49,147 shares of the stock in a transaction that occurred on Thursday, September 30th. The stock was sold at an average price of $126.58, for a total transaction of $6,221,027.26. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

A hedge fund recently raised its stake in Medtronic stock. Morgan Stanley lifted its stake in Medtronic plc (NYSE:MDT) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,000,437 shares of the medical technology company’s stock after purchasing an additional 981,186 shares during the period. Morgan Stanley owned approximately 0.97% of Medtronic worth $1,613,745,000 as of its most recent SEC filing. Institutional investors own 79.58% of the company’s stock.

About Medtronic

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.

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Earnings History and Estimates for Medtronic (NYSE:MDT)

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