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Global adoption of minimally invasive procedures could spark new growth. The global minimally invasive surgery market is forecast to reach $35.5 billion by the end of 2016 with compound annual growth rate ("CAGR") of 8.2%.
While Intuitive Surgical showed why late-stage bases are an excellent topping signal, it also proves how some great companies can eventually lead again.
Financial shares led U.S. stocks lower on Tuesday to end a three-day rally as investors awaited comments from Federal Reserve Chair Jerome Powell at the end of the week. The S&P 500 financial index dropped 1.4% and the group weighed most heavily on the benchmark index among its major sectors, which all registered losses. The S&P 500 is now 4.1% shy of its record closing high in July after having fallen as much as 6.2% below that level.
Medtronic stock rocketed to a record high in early trading on the stock market Tuesday on a "big boy" earnings report that also assuaged worries of a downfall in diabetes device sales.
The rebound in stocks stumbled Tuesday as major indexes weakened in afternoon trading. If the drop holds, it will end a three-day streak of gains.
Shares of Medtronic PLC ran up 4.8% toward a record high in morning trading, to top the S&P 500's list of gainers, after the medical technology company reported second-quarter results that beat expectations and raised its full-year profit outlook. The stock was also the leading gainer within the SPDR Health Care Select Sector ETF . The stock has now run up 8.1% amid a 4-session win streak, which would be the best 4-day stretch since it ran up 10.2% in the four days ending Oct. 2, 2015. SVB Leerink analyst Danielle Antalffy said that despite a decline in the cardiac and vascular group business segment, which is Medtronic's largest by revenue, the company still delivered a total revenue beat, "which we think highlights the strength of [Medtronic's] broad-based business model." The stock has hiked up 20% year to date, while the health care ETF has tacked on 5.5% and the S&P 500 has advanced 16%.
Medtronic (MDT) displays improved performances at CER, banking on growth across all major segmental businesses as well as geographies.
Medtronic (MDT) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Medtronic (NYSE: MDT ) reported first-quarter earnings of $1.26 per share, which beat the analyst consensus estimate of $1.18 by 6.78%. This is a 7.69% increase over earnings of $1.17 per share from the ...
Medtronic (MDT) delivered earnings and revenue surprises of 6.78% and 1.11%, respectively, for the quarter ended July 2019. Do the numbers hold clues to what lies ahead for the stock?
Shares of Medtronic PLC surged 3.5% toward a record high in premarket trading Tuesday, after the medical technology company reported fiscal first-quarter profit and revenue that rose above expectations and raised its full-year outlook. Net income for the quarter to July 26 fell to $864 million, or 64 cents a share, from $1.08 billion, or 79 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS increased to $1.26 from $1.17, above the FactSet consensus of $1.18. Revenue grew 1.5% to $7.49 billion to beat the FactSet consensus of $7.40 billion. Cardiac and vascular revenue fell 0.7% to $2.79 billion but beat the FactSet consensus of $2.76 billion; minimally invasive therapies revenue rose 2.3% to $2.10 billion to top expectations of $2.07 billion; restorative therapies revenue rose 3.2% to $2.01 billion to beat expectations of $1.98 billion; and diabetes revenue grew 3.5% to $592 million to top expectations of $585.5 million. For fiscal 2020, the company raised its adjusted EPS guidance range to $5.54 to $5.60 from $5.44 to $5.50. The stock has rallied 19% over the past three months while the S&P 500 has gained 2.9%.
Medtronic's cardiac and vascular unit generates $2.79 billion in fiscal first-quarter revenue, surpassing analysts' estimates.