Medtronic (NYSE: MDT) is scheduled to report fourth-quarter 2019 financial results on Thursday, May 23, before the regular trading hours. The Dublin-based firm is expected to report earnings of $1.46 per share on revenues of $8.12 billion.
The compares with the earnings of $1.42 per share and revenues of $8.1 billon it reported in the same period last year.
MDT shares have been almost flat so far this year, fluctuating between $82 and $93. In the trailing 52 weeks, the stock has returned a lackluster 2.3% growth.
The fourth quarter results come at a time when the medical device maker is embroiled in allegations that some of its pacemakers run out of charge without giving a warning to the patients, causing medical emergencies.
Earlier this month, the US Food and Drug Administration raised an alarm on pacemaker models Azure, Astra, Percepta, Serena and Solara for pre-mature battery depletion, though a recall wasn’t ordered. Two weeks later, a similar panel in India echoed the same concerns over Medtronic devices.
The management is likely to speak in detail about the issue as they go live during the earnings conference call.
READ: WHAT IS NASH AND WHICH BIOTECH FIRMS ARE VYING FOR THE FIRST-MOVER STATUS
In Q4, investors will be looking at the growth of its cardiac and vascular group, as well as the diabetes unit, both of which are projected to drive long-term traffic for the company.
Of late, Medtronic has been trying to diversify its portfolio to offset weakness in certain areas of medical devices. The most recent move in this regard was the acquisition of Titan Spine, a company that makes titanium spine interbody implant.
This deal was announced last week.
In the last reported quarter, Medtronic topped consensus estimates on revenue and earnings for the and raised its earnings guidance for the fiscal year 2019. Shares were up 0.79% in premarket hours on Tuesday.
Worldwide revenues totaled $7.5 billion, up 2.4% from the same period last year. On an organic basis, revenues grew 4.4%. Adjusted net income rose 10% to $1.75 billion, or $1.29 per share.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
MRK Earnings: Merck Q1 2024 profit jumps on 9% revenue growth
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the first quarter of 2024, aided by an increase in revenues. First-quarter worldwide sales
Infographic: A snapshot of Caterpillar’s (CAT) Q1 2024 financial results
Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Thursday reported first-quarter 2024 financial results. Sales and revenues for the first quarter of 2024 were $15.8
AAL Earnings: Key quarterly highlights from American Airlines’ Q1 2024 financial results
American Airlines Group Inc. (NASDAQ: AAL) reported its first quarter 2024 earnings results today. Total operating revenues increased 3.1% year-over-year to $12.5 billion. Net loss amounted to $312 million, or $0.48