Medtronic Reports Second Quarter Financial Results
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Jefferies Cuts Estimates on Medtronic (MDT) Following 2Q Report
November 23, 2016 9:00 AM ESTJefferies maintained a Buy rating on Medtronic, Inc. (NYSE: MDT), and cut the price target to $88.00 (from $100.00), following the company's 2Q earnings report. Guidance was cut as MDT had been calling for revenue growth in the upper half of mid-single digit growth and EPS... More
Needham & Company Cuts Price Target on Medtronic (MDT) to $84 Following 2Q
November 22, 2016 4:07 PM ESTNeedham & Company maintained a Buy rating on Medtronic, Inc. (NYSE: MDT), and cut the price target to $84.00 (from $95.00), following the company's 2Q earnings report. Revenue was reported at $7.345B, missing consensus of $7.450B. Adjusted EPS was $1.12 vs. consensus of $1.11.
Analyst Mike... More
Medtronic (MDT) PT, Estimates Lowered at Evercore ISI
November 22, 2016 4:02 PM ESTEvercore ISI cut estimates and its price target on Medtronic, Inc. (NYSE: MDT) to $80.00 (from $94.00) but maintained a Buy rating following Q2 results.
FY 2017 EPS goes from $4.70 to $4.56, FY 2018 EPS from $5.25 to $5.00 and FY 2019 EPS from $5.85 to $5.50.
Analyst Vijay Kumar commented, "he thesis that MDT was a safe haven name in troubled times took a beating post a revenue miss (in line EPS) and a guidance reduction. The headline numbers were soft across the board, organic growth decelerated ~200 bps sequentially (or ~$150 MM). With the stock now trading at... More
Medtronic (MDT) Tops Q2 EPS by 1c
November 22, 2016 6:47 AM ESTMedtronic (NYSE: MDT) reported Q2 EPS of $1.12, $0.01 better than the analyst estimate of $1.11. Revenue for the quarter came in at $7.35 billion versus the consensus estimate of $7.46 billion.
"Q2 revenue was disappointing and did not meet our expectations. We faced issues that affected our growth, including slower than expected revenue as we await new product introductions, particularly in CVG and Diabetes," said Omar Ishrak, Medtronic chairman and chief executive officer. "Despite this revenue shortfall, we produced a strong improvement in operating margins and double digit constant currency earnings per share... More
