Medtronic (NYSE:MDT) announced its quarterly earnings data on Thursday. The medical technology company reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.08, RTT News reports. Medtronic had a return on equity of 9.37% and a net margin of 10.36%. The company had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the company earned $0.58 EPS. The company’s quarterly revenue was up 36.5% on a year-over-year basis. Medtronic updated its FY 2022 guidance to 5.600-5.750 EPS and its FY22 guidance to $5.60-5.75 EPS.
Shares of MDT opened at $126.27 on Thursday. The firm has a market capitalization of $170.22 billion, a price-to-earnings ratio of 59.00, a PEG ratio of 2.92 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 2.10. The business’s fifty day moving average price is $126.73 and its two-hundred day moving average price is $118.51. Medtronic has a 52 week low of $87.68 and a 52 week high of $132.30.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 16th. Investors of record on Friday, June 25th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. This is a boost from Medtronic’s previous quarterly dividend of $0.58. Medtronic’s dividend payout ratio (DPR) is currently 50.54%.
A number of analysts have commented on the company. Stifel Nicolaus raised their price objective on Medtronic from $132.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, March 2nd. Cowen raised their price objective on Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 24th. Credit Suisse Group increased their target price on Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. Barclays began coverage on Medtronic in a report on Monday. They issued an “equal weight” rating and a $145.00 target price for the company. Finally, Raymond James increased their target price on Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $127.09.
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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