Wall Street May Be Mispricing Medtronic, Analyst Says

On Wednesday, Medtronic plc (NYSE:MDT) reported fourth-quarter revenue that exceeded Wall Street expectations, supported by strong growth in its Cardiovascular and Diabetes businesses.

Earnings Beat Expectations

Adjusted earnings came in at $1.55 per share, slightly above analysts’ estimates of $1.54 per share.

Revenue increased 9.9% year over year to $9.81 billion, topping the consensus estimate of $9.64 billion. Organic revenue growth was 6.6%.

Cardiovascular revenue rose 13.8% year over year to $3.80 billion, or 10.1% organically, driven by high-teens growth in Cardiac Rhythm & Heart Failure and modest gains in Structural Heart & Aortic and Coronary & Peripheral Vascular.

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Wall Street May Be Mispricing Medtronic, Analyst Says

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