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Medtronic Gains on Strong Fourth-Quarter Earnings

M. Corey Goldman

gained on Thursday after the company reported fiscal fourth-quarter earnings that beat analysts' forecasts and offered an upbeat assessment of its prospects for fiscal 2020. Shares of Medtronic gained 2.25% to $90.76 in trading on the New York Stock Exchange after the company reported adjusted net income of $1.94 billion, or $1.42 a share, vs. $1.47 billion, or $1.07 a share, in the comparable year-earlier period. For the full year Medtronic said it earned an adjusted $5.22 a share, above FactSet consensus estimates of $5.15.