Medtronic plc (NYSE:MDT) manufacturer of medical therapy devices, is expected to report second quarter earnings results, before market open, on Tuesday 24th November 2020.
Analysts polled by Thomson Reuters anticipate second quarter income of $ 0.80 per share from revenue of $ 7081.21 million.
Looking ahead, the full year income are expected at $ 4.01 per share on the revenues of $ 29206.50 million.
Previous Quarter Performance
Medtronic plc disclosed income for the first quarter of $ 0.62 per share, from the revenue of $ 6,507.00 million. The quarterly earnings shrunk 50.79 percent while revenues dropped 13.16 percent compared with the same quarter last year.
Wall street analysts are predicting, MDT to report 1Q21 income of $ 0.18 per share from revenue of $ 5439.62 million. The bottom line results beat street analysts by $ 0.44 or 244.44 percent, at the same time, top line results outshined analysts by $ 1,067.38 million or 19.62 percent.
Stock Performance
Shares of Medtronic plc traded up $ 0.81 or 0.74 percent on Monday, reaching $ 110.97 with volume of 3.51 million shares. Medtronic plc has traded high as $ 112.11 and has cracked $ 110.39 on the downward trend
According to the previous trading day, closing price of $ 110.97, representing a 52.72 % increase from the 52 week low of $ 72.13 and a 9.82 % decrease over the 52 week high of $ 122.15.
The company has a market capital of $ 149.19 billion and is part of the Healthcare sector and Medical Devices industry.
Recent Analyst recommendations
- On 15th October 2020, maintained by Jefferies Financial Group at Buy rating, with $ 138.00 target price.
- On 8th October 2020, upgraded by Stifel Nicolaus to Buy from Hold rating.
Conference Call
Medtronic plc will be hosting a conference call at 8:00 AM eastern time on 24th November 2020, to discuss its 2Q21 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.medtronic.com
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates in four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. The Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.
