Medtronic (MDT) Beats Q3 Earnings and Revenues Estimates

Are you a medical practitioner? Yes, then you must be aware of Minnesota-based one of the world's leading medical technology giant Medtronic plc MDT which has a global reach that extends to roughly 160 countries. Last year, more than 70 million people benefited from Medtronic's medical therapies, which treat cardiac and vascular diseases, diabetes, and neurological and musculoskeletal conditions.

Currently, Medtronic has a Zacks Rank #3 (Hold) but that could change following its positive third-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here ). We have highlighted some of the key details from the just-released announcement below:

Earnings: The current Zacks Consensus Estimate stands at $1.16 per share. Medtronic's adjusted earnings per share of $1.17 exceeded this estimate by a penny.

Revenues: Medtronic posted revenues of $7.37 billion, beating the Zacks Consensus Estimate for revenues of $7.20 billion.

Medtronic plc Price and EPS Surprise

Medtronic plc Price and EPS Surprise | Medtronic plc Quote

Key Stats : Revenues from Medtronic's Cardiac and Vascular Group rose 7% at constant exchange rate (CER) to $2.80 billion, revenues from Minimally Invasive Therapies Group increased 6% at CER to $2.04 billion. Also, revenues from Restorative Therapies Group rose 5% at CER to $1.94 billion, while revenues from Diabetes Group rose 13% at CER to $584 million.

Major Factors : Per management, third quarter performance was encouraging. Moreover, the company witnessing growth in all the business segments also buoys optimism.

Stock Price : Following the earnings release, share prices declined by a 0.06% in the pre-market trading session till now.

Check back later for our full write up on Medtronic's earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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