Medtronic PLC (MDT) Releases Earnings Results, Beats Expectations By $0.02 EPS

Medtronic PLC (MDT) reported quarterly earnings results on Thursday, Aug-25-2016. The company said it had a profit of $1.03 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.01. The company posted revenue of $7200.00 million in the period, compared to analysts expectations of $7169.42 million. The company’s revenue was down -1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.

Many Wall Street Analysts have commented on Medtronic PLC. Citigroup Initiated Medtronic PLC on Aug 23, 2016 to “Buy”, Price Target of the shares are set at $102.Medtronic PLC was Initiated by Guggenheim to “Neutral” on Jun 9, 2016. Company shares were Reiterated by Needham on Jun 7, 2016 to “Buy”, Firm has raised the Price Target to $ 93 from a previous price target of $90 .

Medtronic PLC opened for trading at $87.78 and hit $88.65 on the upside on Tuesday, eventually ending the session at $87.8, with a gain of 0.55% or 0.48 points. The heightened volatility saw the trading volume jump to 33,89,799 shares. Company has a market cap of $122,457 M.

In a different news, on Jul 27, 2016, Bryan C Hanson (EVP, President, MITG) sold 15,000 shares at $87.00 per share price. According to the SEC, on Jul 19, 2016, Geoffrey Martha (EVP & GroupPres Restora Therap) sold 3,766 shares at $88.26 per share price. On Jul 14, 2016, Gary Lee Ellis (EVP & Global Ops and IT) sold 35,495 shares at $88.64 per share price, according to the Form-4 filing with the securities and exchange commission.

Medtronic plc (Medtronic) is a medical technology and services company. The Company develops manufactures and markets its medical devices and technologies to hospitals physicians clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group Minimally Invasive Technologies Group Restorative Therapies Group and Diabetes Group. The Cardiac and Vascular Group segment includes Cardiac Rhythm & Heart Failure Coronary & Structural Heart and Aortic & Peripheral Vascula. Its Minimally Invasive Technologies Group segment includes Surgical Solutions and Patient Monitoring and Recovery. Its Restorative Therapies Group segment includes Spine Neuromodulation Surgical Technologies and Neurovascular. Its Diabetes Group segment includes Intensive Insulin Management Non-Intensive Diabetes Therapies and Diabetes Services & Solutions. Medtronic Inc. is a subsidiary of the Company.

Medtronic PLC

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