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Medtronic (NYSE:MDT) Issues Earnings Results, Beats Expectations By $0.14 EPS

Tuesday, February 23, 2021 | MarketBeat

Medtronic (NYSE:MDT) issued its quarterly earnings data on Tuesday. The medical technology company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.14, RTT News reports. The company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.77 billion. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 earnings per share.

Shares of NYSE:MDT traded up $3.17 during trading on Tuesday, reaching $118.92. The stock had a trading volume of 46,884 shares, compared to its average volume of 4,571,249. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16. The business has a fifty day moving average price of $116.82 and a 200-day moving average price of $110.18. The stock has a market cap of $160.07 billion, a PE ratio of 44.18, a PEG ratio of 3.65 and a beta of 0.70. Medtronic has a 1-year low of $72.13 and a 1-year high of $120.53.

In other Medtronic news, SVP Carol A. Surface sold 15,000 shares of the business's stock in a transaction on Monday, December 28th. The stock was sold at an average price of $114.90, for a total transaction of $1,723,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert John White sold 10,930 shares of the business's stock in a transaction on Friday, December 18th. The stock was sold at an average price of $115.46, for a total value of $1,261,977.80. Following the transaction, the executive vice president now directly owns 55,852 shares in the company, valued at approximately $6,448,671.92. The disclosure for this sale can be found here. Insiders own 0.52% of the company's stock.

Several brokerages have weighed in on MDT. Oppenheimer raised their price target on Medtronic from $122.00 to $128.00 and gave the stock an "outperform" rating in a report on Wednesday, November 25th. SVB Leerink raised their price target on Medtronic from $110.00 to $123.00 and gave the stock a "market perform" rating in a report on Wednesday, November 25th. Raymond James raised their price target on Medtronic from $115.00 to $122.00 and gave the stock an "outperform" rating in a report on Wednesday, November 25th. Morgan Stanley raised Medtronic from an "equal weight" rating to an "overweight" rating and set a $140.00 price target for the company in a report on Tuesday, December 15th. Finally, The Goldman Sachs Group raised Medtronic from a "sell" rating to a "neutral" rating and raised their price target for the stock from $100.00 to $119.00 in a report on Tuesday, December 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of "Buy" and a consensus price target of $120.93.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Earnings History for Medtronic (NYSE:MDT)

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