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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 #4 (Sell) 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 99 cents per share. Medtronic’s adjusted earnings per share of $1.07 exceeded this estimate by 8.1%.
Revenues: Medtronic posted revenues of $7.05 billion, missing the Zacks Consensus Estimate for revenues of $7.07 billion.
Key Stats: Revenues from Medtronic’s Cardiac and Vascular Group rose 7% at Constant exchange Rate (CER) to $2.77 billion, revenues from Minimally Invasive Therapies Group increased 2% at CER to $1.95 billion. Also, revenues from Restorative Therapies Group rose 2% at CER to $1.86 billion, while revenues from Diabetes Group decreased 2% at CER to $462 million.
Major Factors: Per management, second quarter performance was encouraging in spite of the company facing three hurricanes and the California wildfires. Manufacturing operations in Puerto Rico was affected by Hurricane Maria. The company delivered a sequential acceleration in the organic revenue growth. Moreover, the company has reiterated the full year revenue and EPS guidance.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
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Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
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Medtronic (MDT) Tops Q2 Earnings, Misses Revenue Estimate
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 #4 (Sell) 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 99 cents per share. Medtronic’s adjusted earnings per share of $1.07 exceeded this estimate by 8.1%.
Medtronic PLC Price and EPS Surprise
Medtronic PLC Price and EPS Surprise | Medtronic PLC Quote
Revenues: Medtronic posted revenues of $7.05 billion, missing the Zacks Consensus Estimate for revenues of $7.07 billion.
Key Stats: Revenues from Medtronic’s Cardiac and Vascular Group rose 7% at Constant exchange Rate (CER) to $2.77 billion, revenues from Minimally Invasive Therapies Group increased 2% at CER to $1.95 billion. Also, revenues from Restorative Therapies Group rose 2% at CER to $1.86 billion, while revenues from Diabetes Group decreased 2% at CER to $462 million.
Major Factors: Per management, second quarter performance was encouraging in spite of the company facing three hurricanes and the California wildfires. Manufacturing operations in Puerto Rico was affected by Hurricane Maria. The company delivered a sequential acceleration in the organic revenue growth. Moreover, the company has reiterated the full year revenue and EPS guidance.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>