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 #3 (Hold) but that could improve following its solid fourth-quarter fiscal 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.11 per share over the last 7 days. Medtronic’s adjusted earnings per share of $1.16 beat this estimate by a nickel.
Revenues: Medtronic posted revenues of $7.304 billion, comfortably beating the Zacks Consensus Estimate for revenues of $7.121 billion.
Key Stats: Revenues from Medtronic’s Cardiac and Vascular Group jumped 10% at CER to reach $2.596 billion, while revenues from Minimally Invasive Therapies Group increased 6% at CER to $2.387 billion. On the other hand, revenues from Restorative Therapies Group improved 5% to $1.854 billion, while revenues from Diabetes Group rose 8% to $467 million.
Major Factors : Management at Medtronic seemed impressed with the outstanding performance delivered in the fourth quarter, which reflects strong progress post the integration of Covidien. Per management, the solid quarterly results also represent disciplined execution across Medtronic’s three core strategies of therapy innovation, globalization and economic value.
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 this Medtronic’s earnings report later!
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