LONDON, March 17, 2015 /PRNewswire/ --
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Investor-Edge.com has issued free earnings review on Medtronic PLC (NYSE: MDT). On February 17, 2015, the company reported its Q3 FY15 results (period ended January 23, 2015). Click on http://get.Investor-Edge.com/pdf/?c=Medtronic&d=17-Mar-2015&s=MDT to read our free earnings review on Medtronic PLC (Medtronic). During Q3 FY15, the company's total revenues as reported grew 3.7% Y-o-Y. Further, Medtronic's GAAP and non-GAAP diluted earnings per share grew 31% Y-o-Y and 11% Y-o-Y, respectively, in Q3 FY15. Chairman and CEO of Medtronic, Omar Ishrak, said that Q3 FY15 was a strong quarter, with revenue growth well above the company's outlook range for the fiscal year and exceeding its mid-single digit baseline goal. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Medtronic&d=17-Mar-2015&s=MDT
Earnings Overview
During Q3 FY15, Medtronic's total revenues increased to $4.32 billion from $4.16 billion in Q3 FY14. The reported quarter's total revenues exceeded Bloomberg analysts' forecasts of $4.25 billion. Medtronic's U.S. revenue as reported grew 8% during Q3 FY15 to $2.46 billion from $2.27 billion in Q3 FY14. The company's international revenues as reported declined 2% to $1.86 billion in Q3 FY15 from $1.89 billion in Q3 FY14. Furthermore, emerging market revenue came in at $542 million in Q3 FY15, compared to $513 million in Q3 FY14. Free research on MDT can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Medtronic&d=17-Mar-2015&s=MDT
In Q3 FY15, Medtronic's Cardiac and Vascular Group worldwide sales grew 10% Y-o-Y on a constant currency basis, or 5% Y-o-Y as reported, to $2.22 billion. The company's Restorative Therapies Group's worldwide sales was $1.65 billion in Q3 FY15, representing an increase of 5% Y-o-Y on a constant currency basis, or 2% Y-o-Y as reported. Additionally, its Diabetes Group's revenue grew 6% Y-o-Y on a constant currency basis, or 3% Y-o-Y as reported, to $449 million during Q3 FY15. Mr. Ishrak informed that all three legacy Medtronic groups contributed to the company's robust performance. He also asserted that Medtronic's teams are executing on meaningful product launches around the world, and the company's customers are responding to the differentiated healthcare solutions that seek to demonstrate both clinical and economic value.
For Q3 FY15, Medtronic's GAAP net earnings surged to $977 million, or $0.98 per diluted share, from $762 million, or $0.75 per diluted share, in Q3 FY14. The company's GAAP net earnings outperformed Bloomberg analysts' forecasts of $957 million, or $0.96 per diluted share. In addition, Medtronic reported non-GAAP net earnings of $1.01 billion, or $1.01 per diluted share, in Q3 FY15, compared with $916 million, or $0.91 per diluted share, in Q3 FY14.
On January 26, 2015, Medtronic announced the completion of Covidien's acquisition, which did not affect its Q3 FY15 operational results. Mr. Ishrak stated that the close of the company's acquisition of Covidien was a significant milestone for its industry and uniquely positions Medtronic to help lead the transformation of healthcare systems around the world. Sign up and read the free analyst's notes on MDT at:
http://get.Investor-Edge.com/pdf/?c=Medtronic&d=17-Mar-2015&s=MDT
For Q4 FY15, the company expects constant currency revenue growth in the range of 4% to 6% on a combined pro forma basis.
Stock Performance
On the day of earnings release, February 17, 2015, Medtronic's stock rose 3.73% to end the session at $78.07. Since then, the stock has moved both ways. On Monday, March 16, 2015, the company's shares finished at $77.67, 1.57% above its previous day's closing price of $76.47. The stock vacillated between $76.87 and $77.87 during the session. A total of 6.50 million shares were traded which was below their three months average volume of 8.57 million shares. Over the last one month and over the previous three months, the company's shares have gained 3.20% and 8.87%, respectively. Further, the stock has surged 31.96% in past one year. Shares in Medtronic closed above their 50-day and 200-day moving averages of $75.25 and $68.21, respectively. The stock traded at a PE ratio of 19.42 and has a Relative Strength Index (RSI) of 49.15. Visit Investor-Edge and access the latest research on MDT at:
http://get.Investor-Edge.com/pdf/?c=Medtronic&d=17-Mar-2015&s=MDT
Sneak Peek to Corporate Insider Trading
In the last one month, there were six insider transactions made by two individuals. Between February 18, 2015 and February 26, 2015, a total of 50,729 shares were disposed at an average price of $78.22 per share and for a total value of $3.97 million. During the stated period, Christopher J. O'Connell, Executive Vice President and Group President, Restorative Therapies Group at Medtronic, bought 48,514 shares, for a total value of $1.95 million, and at an average price of $40.20 per share, and sold 50,361 shares worth $3.94 million at an average price of $78.22 per share. On February 26, 2015, Denise M. O'Leary, Director at Medtronic, sold 368 shares at an average price of $78.85 per share. Complimentary in-depth research on MDT is available at:
http://get.Investor-Edge.com/pdf/?c=Medtronic&d=17-Mar-2015&s=MDT
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