Deutsche Bank Keeps Hold Rating on Medtronic, Inc. (MDT), 'Good, but maybe not quite good enough'

Medtronic, Inc. (MDT) PT Raised to $100 at Evercore ISI, 'we find MDT compelling in a choppy macro environment'

May 25, 2023 11:15 AM EDT

Evercore ISI analyst Vijay Kumar raised the price target on Medtronic, Inc. (NYSE: MDT) to $100.00 (from $88.00) while maintaining a Outperform rating.

The analyst comments "Generally, inlinish results (vs expecs) and Guide are not reasons to be cheeringbut given the uniqueness of MDT situation, we see the 4Q print as a clearing event and time for investors to get incrementally constructive. For background, MDT has had a tough 18 months, starting with the late 2021 triple whammy of Diabetes warning letter, RDN headline miss and pushout of robotics. This... More

Medtronic (MDT) drops as full-year outlook trails analyst views

May 25, 2023 8:34 AM EDT

Medtronic (NYSE: MDT) shares dipped in pre-market Thursday after the medical device company delivered softer-than-expected guidance.

Medtronic posted adjusted EPS of $1.57 on revenue of $8.54 billion. Analysts were looking for earnings of $1.55 on revenue of $8.25B. The outperformance was driven by the Cardiovascular segment, which saw its sales jump 12%... More

Medtronic (MDT) Raises Quarterly Dividend 1.5% to $0.69; 3.2% Yield

May 25, 2023 6:51 AM EDT

Medtronic (NYSE: MDT) declared a quarterly dividend of $0.69 per share, or $2.76 annualized. This is a 1.5% increase from the prior dividend of $0.68.

The dividend will be payable on July 14, 2023, to stockholders of record on June 23, 2023, with an ex-dividend date of June 22,... More

Medtronic's profit forecast hit by stronger dollar, inflation

May 25, 2023 6:49 AM EDT

By Bhanvi Satija and Raghav Mahobe

(Reuters) -Medtronic Plc on Thursday forecast annual profit below Wall Street estimates, as a strong U.S. dollar and persistently high costs of raw goods weighed on the medical device maker's earnings, sending its shares down more than 4% in early trading.

The company warned in February that rising raw material prices and high wages due to stubbornly high inflation would continue to impact its full-year profit.

Medtronic forecast profit... More

Medtronic (MDT) to acquire EOFlow for ~$738 million

May 25, 2023 6:47 AM EDT

Medtronic plc (NYSE: MDT) entered into a set of definitive agreements to acquire EOFlow Co. Ltd. (KOSDAQ: 294090), manufacturer of the EOPatch® device a tubeless, wearable and fully disposable insulin delivery device. The addition of EOFlow, together with Medtronic's Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM), is expected to expand the... More

Medtronic (MDT) Tops Q4 EPS by 2c, Beats on Revenue; Offers FY23 Guidance

May 25, 2023 6:46 AM EDT

Medtronic (NYSE: MDT) reported Q4 EPS of $1.57, $0.02 better than the analyst estimate of $1.55. Revenue for the quarter came in at $8.5 billion versus the consensus estimate of $8.25 billion.

GUIDANCE:

Medtronic sees FY2024 EPS of $5.00-$5.10, versus the consensus of... More

Medtronic (MDT) May weekly option IV elevated into quarter results and outlook

May 24, 2023 10:48 AM EDT

Medtronic (NYSE: MDT) May weekly call option implied volatility is at 63, June is at 28; compared to its 52-week range of 19 to 32 into the expected release of quarter results before the bell on May 25.

... More