Medtronic dips on miss and lower guidance from slow procedure and supply recovery
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Medtronic (MDT) stock hit with 2 downgrades after disappointing results, guidance
November 23, 2022 8:17 AM ESTAt least two sell-side analysts cut their rating on Medtronic (NYSE: MDT) stock on Wednesday after the companys shares closed over 5% lower yesterday following disappointing earnings.
Medtronic cut its full-year profit guidance to reflect macro pressure and FX headwinds. The company also reported a drop in revenues of 3.3% year-over-year.
Slower than predicted procedure and supply recovery drove revenue below our expectations this quarter,... More
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Investing.com Chinas Covid case count skyrocketed toward levels last seen in April, with Guangzhou and Chongqing the new hotspots. The Fed and the ECB are set for interest rate hikes of only 50 basis points at their next meetings, officials indicate. Zoom Video slides in premarket after giving some disappointing guidance for the current quarter. Troubled crypto brokerage Genesis is struggling to bridge a $1 billion liquidity shortfall, and oil whipsaws as two big Gulf producers pooh-pooh the idea of an output increase. Heres what you need to know in financial markets on Tuesday,... More
Medtronic (MDT) Tops Q2 EPS by 2c; Guides FY23 EPS Below the Street
November 22, 2022 6:49 AM ESTMedtronic (NYSE: MDT) reported Q2 EPS of $1.30, $0.02 better than the analyst estimate of $1.28. Revenue for the quarter came in at $7.6 billion versus the consensus estimate of $7.7 billion.
GUIDANCE:
Medtronic sees FY2023 EPS of $5.25-$5.30, versus the consensus of $5.53. The company... More
