Medtronic (MDT) Beats on Q4 Earnings & Revenues Estimates
Are you a medical practitioner? Yes, then you must be aware of Minnesota-based one of the world’s leading medical technology giant – Medtronic plc MDT which has a global reach that extends to more than 140 countries. Last year, more than 10 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 #4 (Sell) but that could change following its positive fourth-quarter fiscal 2017 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:
Earnings: The current Zacks Consensus Estimate stands at $1.31 per share. Medtronic’s adjusted earnings per share of $1.33 exceeded this estimate by 1.5%.
Full year adjusted earnings came in at $4.60 per share which marginally beats the Zacks Consensus Estimate of $4.58
Revenues: Medtronic posted revenues of $7.91 billion, exceeding the Zacks Consensus Estimate for revenues of $7.85 billion.
Full year revenues came in at $29.71 billion which is ahead of the Zacks Consensus Estimate of $29.64 billion.
Medtronic PLC Price and EPS Surprise
Medtronic PLC Price and EPS Surprise | Medtronic PLC Quote
Key Stats: Revenues from Medtronic’s Cardiac and Vascular Group rose 5% at Constant exchange Rate (CER) to $2.84 billion, while revenues from Minimally Invasive Therapies Group increased 6% at CER to $2.60 billion. On the other hand, revenues from Restorative Therapies Group rose 5% at CER to $1.95 billion, while revenues from Diabetes Group grew 4% at CER to $512 million.
Major Factors: Medtronic reported impressive fourth quarter fiscal 2017 results with both top-line and bottom-line exceeding the Zacks Consensus Estimate. The company’s year over year top line performance was also impressive across all business groups. The company provided its initial fiscal year 2018 revenue and earnings per share growth guidance.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
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