Medtronic plc (MDT) : Q116 Earnings Whisper

Medtronic plc (MDT) is set to announce its Q116 earnings before the markets open on Thursday, September 3. Analysts expect the software giant to report earnings per share of $1.01 and revenue of $7.05 billion. That would be $0.15 lower the $1.16 per share posted last quarter and $0.08 higher the $0.93 posted in the Q115. Revenue is projected to be $2.78 billion higher than the $4.27 billion posted in the same period a year earlier. Meanwhile, reports a whisper number of $1.03 per share.

As a quick reminder, MDT reported Q415 EPS of $1.16, $0.06 better than the Street’s consensus estimate of $1.10. Revs increased 58.70% year-over-year to $7.3 billion versus the $7.14 billion consensus.

On valuation measures, Medtronic PLC stock it’s trading at a forward P/E multiple of 14.78x, and at a multiple of 29.69x this year’s estimated earnings. The t-12-month revenue at Medtronic PLC is $20.13 billion. MDT ‘s ROE for the same period is 7.36%.

Shares of the $101.19 billion market cap company are up 13.29% year-over-year and 0.00% year-to-date.

Medtronic PLC, currently with a median Wall Street price target of $88.00 and a high target of $91.00, rose $2.02 to $71.55 in recent trading.

Update: Medtronic shares are up $0.09 to $71.64 in morning trading Thursday after the company reported its first quarter earnings results 2016.

The medical device maker posted earnings of $1.02 per share on revenues – including that generated by the recently acquired Covidien – of $7.27 billion. Analysts were expecting EPS of $1.01 on revenues of $7.05 billion.

For FY16, Dublin, Ireland-based Medtronic gave its bottom line range of $4.30 – $4.40 per share, against projections of $4.37 per share.

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