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MarketScreener Homepage  >  Equities  >  Nyse  >  Medtronic PLC    MDT   IE00BTN1Y115

MEDTRONIC PLC

(MDT)
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Medtronic : Beats Analysts' Expectations for 1Q Revenue, Adjusted EPS

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08/20/2019 | 07:34am EDT

By Michael Tobin

Medtronic PLC (MDT) posted fiscal first-quarter results that beat analysts' expectations for adjusted earnings and revenue as sales grew in the U.S. and emerging markets.

The medical device company reported $864 million in net income, or 64 cents a share for the quarter ended July 26, down from $1.08 billion or 79 cents a share during last year's first quarter. Analysts polled by FactSet estimated earnings of 91 cents a share.

On an adjusted basis, Medtronic reported net income of $1.26 a share. Analysts were expecting adjusted income of $1.18 a share.

Medtronic reported $7.49 billion in revenue, a decrease from $7.38 billion during this time last year. Analysts were expecting $7.40 billion in sales. The company saw a 1.4% increase in U.S. sales and emerging markets revenue increased 7.5%. Medtronic said that non-U.S. developed market revenue fell by 1.2%.

The company raised its earnings guidance for fiscal 2020 and reaffirmed its revenue guidance. Medtronic expects earnings between $5.54 and $5.60, up from $5.44 and $5.50. The company said that the new range includes a 10 cent impact it expects from foreign currency exchange.

Medtronic said it expects organic revenue growth of 4% for the year and if currency rates remain the same, the company said revenue growth would decrease by 0.8% to 1.2%.

Write to Michael Tobin at michael.tobin@wsj.com

Corrections & Amplifications

This article was corrected at 09:36 a.m. ET because the original incorrectly said that Medtronic had previously guided for adjusted earnings per share of $5.54 to $5.50 in the fifth paragraph. Medtronic PLC previously guided for adjusted earnings per share of $5.44 and $5.50 for fiscal 2020.

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Financials (USD)
Sales 2020 31 496 M
EBIT 2020 9 274 M
Net income 2020 5 412 M
Debt 2020 17 412 M
Yield 2020 1,89%
P/E ratio 2020 27,9x
P/E ratio 2021 24,5x
EV / Sales2020 5,29x
EV / Sales2021 4,92x
Capitalization 149 B
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 117,62  $
Last Close Price 111,18  $
Spread / Highest target 19,6%
Spread / Average Target 5,79%
Spread / Lowest Target -10,1%
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NameTitle
Omar S. Ishrak Chairman & Chief Executive Officer
Mark Ploof Senior Vice President-Global Operations
Karen L. Parkhill Chief Financial Officer & Executive Vice President
Richard E. Kuntz Chief Scientific, Clinical & Regulatory Officer
Richard H. Anderson Lead Independent Director
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