Company Update: Medtronic Inc (NYSE:MDT) – Medtronic Receives Expanded Indication From FDA for Pillcam(TM) Colon 2 Capsule

[GlobeNewswire] – Potentially Reaching More Patients at Risk for Colon Cancer DUBLIN – March 31, 2016 – Medtronic plc (NYSE: MDT) today announced that the U.S. Food and Drug Administration (FDA) cleared PillCam (TM) COLON … Read more on this. Medtronic plc (MDT) , with a current value of $105.69B, opened this morning at $75.42. During today’s session, MDT traded between $75.05 to $75.55 and has traded between $55.54 and $79.08 over the past 12 months. MDT shares are currently priced at 17.26x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.70x earnings multiple. The company pays shareholders $1.52 per share annually in dividends, yielding 2.05%. In a review of the consensus earnings estimate this quarter, 22 sell-side analysts are looking at $1.27 per share, which would be $0.11 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $4.37 is a $0.09 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.48 Billion. If reported, that would be a 2.47% increase over the year-ago quarter. More recently, Nomura Initiated MDT at Buy (Mar 17, 2016). Previously, Needham Initiated MDT at to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $82.98, which is 10.02% above where the stock opened this morning. See more in (NYSE:MDT) Similar Articles: Stock Update: Medtronic Inc (NYSE:MDT) – Medtronic Receives CE Mark for Full Line of Cardiac Resynchronization Therapy-Defibrillators Compatible with MRI Scans Market Update (NYSE:MDT): Medtronic IN.PACT Admiral DEB Receives CE Mark for Treatment of AV Access In Patients with End-Stage Renal Disease Company Update: Medtronic Inc (NYSE:MDT) – Medtronic TYRX(TM) Neuro Absorbable Antibacterial Envelope now Available for Use with Implantable Neurostimulators