Medtronic expected to announce solid Q4 results with potential for growth, stock currently around $85.

From Nasdaq: 2024-05-22 00:03:08

Medtronic (NYSE: MDT) is set to announce its fiscal Q4 2024 results on May 23. Stock expected to trade flat post-earnings. Revenue and earnings likely to meet street estimates. Company benefiting from increased procedures volume and new product expansion. Stock currently around $85 with potential for growth to $96.

Medtronic stock has underperformed S&P 500 in recent years. Trefis High Quality Portfolio outperformed S&P each year. Uncertain macroeconomic environment may impact stock. Valuation suggests room for growth with an estimated upside of over 10%. Revenue in previous quarter up 5% y-o-y driven by various segments.

Q4 trends likely to mirror previous quarter. Organic sales growth expected in Diabetes and Cardiovascular segments. Tepid top-line growth due to forex losses. Organic growth driven by new products like pacemakers and insulin systems. Company expects 2024 sales to increase 4.75%-5% over fiscal 2023. Bottom line estimated between $5.19-$5.21 on adjusted basis.

MDT stock shows potential for growth. Comparison with peers shows decent returns. Trefis Reinforced Value Portfolio offers market-beating portfolios. Check out Trefis Price Estimates for more insights. Make informed investment decisions with Trefis.



Read more at Nasdaq: Will Medtronic Stock See Higher Levels Post Q4 Results After 5% Gains This Year?