Medtronic, Inc. (MDT) Releases FY13 Earnings Guidance
Medtronic, Inc. (MDT) issued an update on its FY13 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.62-3.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.66.
Medtronic, Inc. (MDT) opened at 41.81 on Tuesday. Medtronic, Inc. (MDT) has a 52-week low of $33.62 and a 52-week high of $44.79. The company has a market cap of $42.652 billion and a price-to-earnings ratio of 12.05.
Medtronic last posted its quarterly earnings results on Tuesday, November 20th. The company reported $0.88 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.88. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in 2011, the company posted $0.84 earnings per share. Medtronic’s revenue was down .9% compared to the same quarter last year. Analysts expect that Medtronic, Inc. (MDT) will post $3.66 EPS for the current fiscal year.
Several analysts have also recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Medtronic in a research note to investors on Monday. They set a hold rating on the stock. On a related note, analysts at Wunderlich reiterated a buy rating on shares of Medtronic in a research note to investors on Monday. They now have a $46.00 price target on the stock. Finally, analysts at Lazard reiterated a buy rating on shares of Medtronic in a research note to investors on Friday, October 19th. They now have a $48.00 price target on the stock.
Medtronic, Inc. (Medtronic) is engaged in the medical technology – alleviating pain, restoring health, and extending life for people with chronic conditions worldwide.
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