Medtronic PLC (MDT) reported quarterly earnings results on Tuesday, May-31-2016. The company said it had a profit of $1.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.26. The company posted revenue of $7567.00 million in the period, compared to analysts expectations of $7488.95 million. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS.
Many Wall Street Analysts have commented on Medtronic PLC. Sun Trust Rbsn Humphrey Initiated Medtronic PLC on Apr 25, 2016 to “Buy”, Price Target of the shares are set at $93.Company shares were Reiterated by Needham on Apr 5, 2016 to “Buy”, Firm has raised the Price Target to $ 90 from a previous price target of $88 .Medtronic PLC was Initiated by Nomura to “Buy” on Mar 17, 2016.
Medtronic PLC opened for trading at $81 and hit $81.69 on the upside on Friday, eventually ending the session at $81.69, with a gain of 0.63% or 0.51 points. The heightened volatility saw the trading volume jump to 53,26,621 shares. Company has a market cap of $147,127 M.
In a different news, on Apr 5, 2016, Richard Kuntz (SrVP & Chief Scien, Clin, Reg) sold 4,000 shares at $75.22 per share price. According to the SEC, on Mar 22, 2016, Shirley A Jackson (director) sold 1,238 shares at $75.60 per share price. On Mar 21, 2016, Omar Ishrak (Chairman & CEO) sold 23,799 shares at $76.51 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.