Earnings Preview: Medtronic
posted on: February 15, 2008
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MDT
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Medtronic (MDT) is expected to report Q3 earnings with a
conference call scheduled for Tuesday, February 19 at 8:00 a.m. ET.
Analysts are looking for a
profit of 62c on revenue of $3.34B. The consensus range is 58c to 64c for EPS,
and revenue of $3.32B to $3.45B, according to First Call. It has recently been
reported that trends for stent usage have been improving over the fourth
quarter.
Guidance
Analysts are looking for a
profit of 62c on revenue of $3.34B. The consensus range is 58c to 64c for EPS,
and revenue of $3.32B to $3.45B, according to First Call. It has recently been
reported that trends for stent usage have been improving over the fourth
quarter.
A recovery in the stent market would be positive for Medtronic which has a large stake in this market. The FDA recently approved Medtronic's latest entry into the market, Endeavor, a new generation drug-coated stent. A weak dollar is likely to help Medtronic's top-line as they have a large amount of overseas sales. A possible negative for the stock is the impact of problems with Fidelis, a defibrillator wire that may have caused deaths.
Analyst Views
Cowen initiated the shares with a Neutral. They have concerns with management's long term growth view. Leerink Swann rates the stock an Outperform and says that current levels provide an attractive entry point.Get Seeking Alpha Free Stock Alerts by Email!
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