Company Of The Day: Medtronic
What?
Medtronic (NYSE:MDT) posted a mixed set of Q3 FY’22 results. While revenues missed expectations, remaining roughly flat year-over-year at $7.8 billion, adjusted EPS was in-line with estimates at $1.37. Guidance for Q4 was also in-line with estimates.
Why?
The sales of some devices, such as its pelvic health products were impacted as the surge in omicron virus cases resulted in deferred procedures in Q3. However, the company says that it is seeing improving volumes with demand for its heart devices remaining strong.
So What?
Medtronic stock gained almost 3% in Tuesday’s trading.
See Our Complete Analysis For Medtronic
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| Returns | Feb 2022 MTD [1] |
2022 YTD [1] |
2017-22 Total [2] |
| MDT Return | 0% | 0% | 46% |
| S&P 500 Return | -5% | -10% | 92% |
| Trefis MS Portfolio Return | -3% | -12% | 246% |
[1] Month-to-date and year-to-date as of 2/23/2022
[2] Cumulative total returns since the end of 2016