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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 - Free Report) which has a global reach that extends to roughly 160 countries. Last year, more than 70 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 first-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:
Earnings: The current Zacks Consensus Estimate stands at $1.08 per share.Medtronic’s adjusted earnings per share of $1.12 exceeded this estimate by 3.7%.
Revenues: Medtronic posted revenues of $7.39 billion,missing the Zacks Consensus Estimate for revenues of $7.44 billion.
Key Stats: Revenues from Medtronic’s Cardiac and Vascular Group rose 6% at Constant exchange Rate (CER) to $2.64 billion, while revenues from Minimally Invasive Therapies Group increased 3% at CER to $2.48 billion. On the other hand, revenues from Restorative Therapies Group rose 2% at CER to $1.80 billion, while revenues from Diabetes Group decreased 1% at CER to $449 million.
Major Factors: Medtronic exited first quarter fiscal 2018 on a mixed note with bottom line exceeding the Zacks Consensus Estimate and top line missing the same. The company’s year over year top line performance was also impressive across all business groups except Diabetes Group which witnessed 1% decrease at CER. The company reiterated its fiscal year 2018 revenue and earnings per share growth guidance.
Stock Price: Following the earnings release, share prices decreased by 0.6% in the pre-market trading session.
Zacks' 10-Minute Stock-Picking Secret
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
But here's something even more remarkable: You can master this proven system without going to a single class or seminar. And then you can apply it to your portfolio in as little as 10 minutes a month.
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Medtronic (MDT) Tops Q1 Earnings, Reiterates '18 Guidance
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 - Free Report) which has a global reach that extends to roughly 160 countries. Last year, more than 70 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 first-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:
Earnings: The current Zacks Consensus Estimate stands at $1.08 per share.Medtronic’s adjusted earnings per share of $1.12 exceeded this estimate by 3.7%.
Medtronic PLC Price and EPS Surprise
Medtronic PLC Price and EPS Surprise | Medtronic PLC Quote
Revenues: Medtronic posted revenues of $7.39 billion,missing the Zacks Consensus Estimate for revenues of $7.44 billion.
Key Stats: Revenues from Medtronic’s Cardiac and Vascular Group rose 6% at Constant exchange Rate (CER) to $2.64 billion, while revenues from Minimally Invasive Therapies Group increased 3% at CER to $2.48 billion. On the other hand, revenues from Restorative Therapies Group rose 2% at CER to $1.80 billion, while revenues from Diabetes Group decreased 1% at CER to $449 million.
Major Factors: Medtronic exited first quarter fiscal 2018 on a mixed note with bottom line exceeding the Zacks Consensus Estimate and top line missing the same. The company’s year over year top line performance was also impressive across all business groups except Diabetes Group which witnessed 1% decrease at CER. The company reiterated its fiscal year 2018 revenue and earnings per share growth guidance.
Stock Price: Following the earnings release, share prices decreased by 0.6% in the pre-market trading session.
Zacks' 10-Minute Stock-Picking Secret
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
But here's something even more remarkable: You can master this proven system without going to a single class or seminar. And then you can apply it to your portfolio in as little as 10 minutes a month.
Learn the secret >>