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Medtronic (MDT) Beats on Q4 Earnings and Revenues

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Are you a medical practitioner? Yes, then you must be aware of Dublin, Ireland-based one of the world’s leading medical technology giant Medtronic plc MDT  which has a global reach that extends to more than 150 countries. Last year, more than 65 million people benefited from Medtronic’s medical therapies, which treat cardiac and vascular diseases, diabetes, and neurological and musculoskeletal conditions.

Currently, Medtronic has a Zacks Rank #3 (Hold) but that could change following its positive fourth-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:

 

Medtronic PLC Price and EPS Surprise

Medtronic PLC Price and EPS Surprise | Medtronic PLC Quote

Earnings: The current Zacks Consensus Estimate stands at $1.38 per share. Medtronic’s adjusted earnings per share of $1.42 exceeded this estimate by 2.9%.

Revenues: Medtronic posted revenues of $8.14 billion, beating the Zacks Consensus Estimate for revenues of $7.99 billion.

Key Stats: Revenues from Medtronic’s Cardiac and Vascular Group rose 5.4% at constant exchange rate (CER) to $3.14 billion, revenues from Minimally Invasive Therapies Group declined 4.8% at CER to $2.24 billion. Revenues from Restorative Therapies Group rose 6.1% at CER to $2.13 billion, while revenues from Diabetes Group rose 21.3% at CER to $645 million.

Major Factors: Per management, fourth quarter performance was encouraging. Moreover, the company witnessing growth in all the business segments also buoys optimism.

Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.

Check back later for our full write up on Medtronic's earnings report later!

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