Medtronic Raises FY2024 Adj EPS Outlook to $5.08 - $5.16 from $5.00 - 5.10 Prior vs $5.05 Est
Portfolio Pulse from Benzinga Newsdesk
Medtronic has raised its FY24 revenue growth and EPS guidance. The company increased its FY24 organic revenue growth guidance to 4.5% from the prior range of 4.0% to 4.5%. The FY24 diluted non-GAAP EPS guidance has been increased from the prior range of $5.00 to $5.10 to the new range of $5.08 to $5.16. The company's CFO attributes this to revenue outperformance and focus on expense management.
August 22, 2023 | 10:47 am
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POSITIVE IMPACT
Medtronic has raised its FY24 revenue growth and EPS guidance, which could lead to a positive market reaction.
Medtronic's raised guidance indicates strong performance and improved fundamentals, which are typically well-received by the market. This could lead to increased investor confidence and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100