Medtronic Lifts Annual Forecast On Better Than Expected Q1 Performance Across All Categories
Portfolio Pulse from Vandana Singh
Medtronic Plc (NYSE:MDT) reported Q1 FY24 sales of $7.7 billion, up 4.5% Y/Y, beating the consensus of $7.57 billion. The company's organic revenue results reflect strength across businesses and geographies. Medtronic's heart device unit sales increased 5.5% Y/Y to $2.85 billion. The company raised its FY24 revenue growth and EPS guidance, expecting FY24 organic revenue growth of 4.5%. Medtronic expects FY24 adjusted EPS of 5.08-$5.16, up from prior guidance of $5.00-$5.10.
August 22, 2023 | 12:28 pm
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Medtronic reported better than expected Q1 FY24 sales and raised its FY24 revenue growth and EPS guidance. This could positively impact the company's stock.
Medtronic's better than expected Q1 FY24 sales and raised FY24 guidance indicate strong performance and positive future outlook, which are likely to boost investor confidence and positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100