Medtronic (MDT): FX Could Be A $0.27 Tailwind vs. $0.25 Headwind In '17 - Jefferies
- Dow, S&P hit highs; Trump comment hammers drug stocks
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Jefferies analyst, Raj Denhoy, reiterated his Buy on Medtronic, Inc. (NYSE: MDT) ahead of earnings this Thursday. Despite good sales results, recent stock action around reporting has been dominated by operating profitability results. MDT missed 3 of the 4 Qs of FY16. Operating margins in 4Q were 30.3%, missing the guidance of 31-31.3% given in 3Q. The miss was blamed on one-time items in gross margins and the company continues to insist that the COV synergies are being realized with FX being the major culprit behind the misses.
Other issues for the company include 1Q17 being shortened by one week and currency could be as much as a $0.27 tailwind v. the negative $0.20-$0.25 guided to.
No change to the price target of $93.
Shares of Medtronic, Inc. closed at $87.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- Deutsche Bank Starts Verisk Analytics (VRSK) at Hold
- Instinet Reiterates Buy on Oracle (ORCL) Ahead of 2Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!