- Medtronic’s cardiovascular revenue for Q1 2024 is $3.01 billion, beating the estimate of $2.93 billion with a 5.5% year-over-year (y/y) increase.
- The company reported adjusted earnings per share (EPS) of $1.23, up from $1.20 y/y.
- Total revenue reached $7.92 billion, a 2.8% increase y/y.
- Medical Surgical revenue fell to $2.00 billion, down 2.1% y/y and below the estimate of $2.44 billion.
- Neuroscience revenue rose to $2.32 billion, a 4.4% y/y increase, slightly above the estimate of $2.3 billion.
- Diabetes revenue grew significantly to $647 million, marking a 12% increase y/y compared to the estimate of $614.9 million.
- Adjusted gross margin was 65.9%, slightly down from 66.4% y/y but above the estimate of 65.5%.
- Adjusted operating margin was 24.4%, consistent with estimates but down from 24.8% y/y.
- The company has raised its FY25 organic revenue growth guidance to 4.5% – 5%, up from 4% – 5%.
- FY25 diluted non-GAAP EPS guidance has been increased to $5.42 – $5.50, compared to the previous range of $5.40 – $5.50.
- This new guidance indicates an expected FY25 diluted non-GAAP EPS growth of 4% to 6%.
- Analyst ratings: 16 buy, 17 hold, and 2 sell.
Medtronic Plc on Smartkarma
Analysts on Smartkarma, like Baptista Research, have been closely covering Medtronic Plc, providing valuable insights into the company’s performance and future prospects. According to Baptista Research‘s report, “Expansion Of Global Operations & Supply Chain Transformation! – Major Drivers,” Medtronic’s fiscal year 2024 Q4 earnings showcased significant revenue growth and strong earnings. The company’s strategic initiatives resulted in mid-single-digit or higher revenue growth across its four segments, driven by new product innovations in cardiovascular, robotics, diabetes care, and other therapeutic areas.
Another report by Baptista Research, titled “Data Driven Innovations & 5 Major Drivers Of Its Future Growth! – Financial Forecasts,” highlighted Medtronic’s solid performance in the fiscal ’24 third quarter. The company’s revenue growth surpassed expectations, backed by strength in core businesses like Core Spine, Cardiac Surgery, and Structural Heart. The report emphasized the pivotal role of innovation-driven technologies such as robotics, AI, and closed-loop systems in driving growth, with multiple AI products already FDA approved.
A look at Medtronic Plc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Medtronic Plc, a company that develops therapeutic and diagnostic medical products, has received above-average Smart Scores across various factors. With a Value score of 3, Dividend score of 4, Growth score of 3, Resilience score of 3, and Momentum score of 3, the company shows promising signs for long-term investors. The higher scores in Dividend and Resilience suggest that Medtronic offers good potential for stable returns and can weather market volatilities. Although Growth and Value scores are moderate, the overall outlook appears steady and reliable for Medtronic Plc.
Having a strong presence in the global market, Medtronic’s diverse range of products cater to various medical needs including heart management, pain relief, and movement disorders. The company’s focus on innovation and delivering essential medical solutions positions it well for future growth and continued success. Investors looking for a solid investment opportunity in the medical sector may find Medtronic Plc a compelling choice based on its above-average Smart Scores and expansive product offerings.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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