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Medtronic plc

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Medtronic exited the fiscal third quarter on a solid note. All the major business groups contributed to solid top-line growth at CER, highlighting sustainability across groups and regions, in addition to displaying successful integration and achievement of synergy targets. Also, gradually stabilizing CRHF market buoys optimism. We are encouraged by the company’s healthy global acceptance of its advanced therapies. The receipt of FDA approval for the Riptide Aspiration System under the Neurovascular unit within the RTG business buoys optimism. The company is also focusing on geographical diversification of its businesses. However, escalating costs and expenses continue to weigh on the bottom line. The company’s reiteration of 2018 guidance despite the projection of favorable foreign currency translation dampens investors’ confidence. Over the past three months, Medtronic has underperformed the broader industry.


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