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Medtronic Earnings, Sales Top, Guidance So-So

Medtronic stock was not yet active on Thursday after the medical technology company reported adjusted earnings of $1.50 per share on $8.19 billion in sales for its fiscal fourth quarter.




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On average, analysts polled by FactSet expected Medtronic (MDT) to earn $1.42 a share on $7.86 billion in sales.

In the year-ago period, Medtronic earnings were 58 cents a share and the company posted $6 billion in sales.

For the current fiscal year, the company guided to adjusted EPS of $5.60-$5.75 with organic revenue growth of about 9%. Medtronic stock analysts projected income of $5.75 a share and $32.7 billion in sales.

In premarket trading on today’s stock market, Medtronic stock was quiet. Shares broke out of a flat base with a buy point at 120.63 in early April. Medtronic stock is now trading inside the 5% chase zone, according to MarketSmith.com.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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