Medtronic (NYSE:MDT) is scheduled to announce Q3 earnings outcomes on Tuesday, February twenty first, earlier than market open.
The consensus EPS Estimate is $1.27 (-7.3% Y/Y) and the consensus Revenue Estimate is $7.53B (-3.5% Y/Y).
Over the final 2 years, MDT has crushed EPS estimates 63% of the time and has crushed income estimates 25% of the time.
Over the final 3 months, EPS estimates have seen 0 upward revisions and 22 downward. Revenue estimates have seen 0 upward revisions and 19 downward.
The medical gadget maker’s inventory fell -5.30% on Nov. 22, 2022 after combined Q2 outcomes and a steerage minimize. The firm’s Non-GAAP EPS beat estimates however income couldn’t surpass analysts estimates. Meanwhile, Medtronic had lowered its full-year 2022 earnings steerage to a stage beneath the Street forecasts citing unfavorable foreign exchange influence.
According to analytics agency GlobalData, the orthopedics gadgets market is about to return to pre-pandemic ranges with expectation to achieve ~$50B in 2023.
Medtronic was amongst BofA quantamental Alpha Surprise Portfolio for February.
Earlier in February, a California federal jury ordered a unit of Medtronic to pay $106.5M to rival Colibri Heart Valve in a patent infringement lawsuit associated to a cardiac gadget used for coronary heart valve alternative.
In January, Medtronic (MDT) had issued a recall of ~23K of its Mahurkar hemodialysis catheters as a result of a defect that might trigger leaks on the catheter’s tubes.
In December 2022, it was reported that European Union Health Commissioner Stella Kyriakides aimed to suggest delaying a regulation that requires all medical gadgets to be re-certified amidst issues over gadget shortages. Medical Devices Regulation mandates that medical gadgets be re-certified by May 2024.
Recent earnings Analysis from our contributors: Medtronic: A Trend Change May Be Underway Ahead Of Earnings