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Medtronic Backs Fy18 Earnings, Revenue Growth View - Quick Facts

Medtronic Backs Fy18 Earnings, Revenue Growth View - Quick Facts

Medtronic Backs FY18 Earnings, Revenue Growth View - Quick Facts (RTTNews) - Medtronic plc (MDT), an Ireland-based medical technology, services and solutions company, on Tuesday reiterated its outlook for fiscal 2018. The company still expects full-year adjusted earnings per share growth to be in the range of 9 to 10 percent on a comparable, constant currency basis. Assuming current exchange rates remain similar for the rest of the year, the company's adjusted earnings per share would be affected by an approximate negative $0.03 to positive $0.01, including an approximate $0.00 to positive $0.02 impact in the second fiscal quarter. In fiscal year 2018, the company expects comparable, constant currency revenue growth to be in the range of 4 to 5 percent. If current exchange rates remain similar for the remainder of the year, the company's revenue would be positively affected by approximately $380 million to $480 million for the fiscal year, including an approximate $25 to $75 million positive impact in the second fiscal quarter. On average, 10 analysts polled by Thomson Reuters expect earnings of $4.80 per share on revenues of $29.55 billion for the year. Analysts' estimates typically exclude special items. Omar Ishrak, Medtronic chairman and chief executive officer, said, "Looking ahead, we have now entered a period of clear acceleration in our innovation cycle, and we expect to see increasing momentum coming from several new product launches over the balance of the fiscal year." In pre-market activity on the NYSE, MDT shares were losing 1.38 percent to $82.37. Continue reading >>

Medtronic

Medtronic

Medtronic Public Limited Company is a medical device company. Its headquarters are in Dublin, Ireland.[1][3][4][5] Its operational headquarters are in Fridley, Minnesota.[1][6] Medtronic is among the world's largest medical equipment development companies.[7] In 2015, at the time of its acquisition of Covidien, its market capitalisation was about $100 billion.[8] Medtronic operates in more than 140 countries.[1] It employs over 85,000 people and has more than 53,000 patents.[9] History[edit] Early history[edit] Medtronic Operational Headquarters in Fridley, Minnesota, a suburb of Minneapolis. Medtronic was founded in 1949 in northeastern Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie, as a medical equipment repair shop.[10] Through his repair business, Bakken came to know C. Walton Lillehei, a doctor of heart surgery at the University of Minnesota Medical School. The deficiencies of the pacemakers of the day were made painfully obvious following a power outage over Halloween in 1957, which affected large sections of Minnesota and western Wisconsin.[11] A pacemaker-dependent paediatric patient of Lillehei died because of the blackout. The next day, Lillehei spoke with Bakken about developing some form of battery-powered pacemaker. Bakken modified a design for a transistorised metronome and created the first battery-powered external artificial pacemaker. Medtronic's old headquarters in St. Anthony, Minnesota The company expanded through the 1950s, mostly selling equipment built by other companies but also developing some custom-made devices. Bakken built a small pacemaker that could be strapped to the body and powered by batteries. Work in the new field later produced an implantable pacemaker in 1960. The company built headquarters in the Minneapoli Continue reading >>

Globenewswire: Medtronic Reports Second Quarter Financial Results

Globenewswire: Medtronic Reports Second Quarter Financial Results

Medtronic Reports Second Quarter Financial Results Revenue of $7.1 Billion; GAAP Diluted EPS of $1.48; Non-GAAP Diluted EPS of $1.07 Given Divestiture, Revenue Decreased 4% as Reported; Increased 3% at Comparable, Constant Currency or 4% Adjusting for Hurricane Maria Impact Company Reiterates Full Year Revenue and EPS Guidance DUBLIN - November 21, 2017 - Medtronic plc (NYSE: MDT) today announced financial results for its second quarter of fiscal year 2018, which ended October 27, 2017. The company reported second quarter worldwide revenue of $7.050 billion, a decrease of 4 percent as reported, with the decline driven by the company's divestiture of its Patient Care, Deep Vein Thrombosis (Compression), and Nutritional Insufficiency businesses to Cardinal Health that occurred at the beginning of the quarter. Second quarter revenue increased 3 percent on a comparable, constant currency basis, which adjusts for the divestiture and a $35 million positive impact from foreign currency. Excluding the approximate $55 to $65 million impact of Hurricane Maria to the company's revenue, which was split across the company's Minimally Invasive Therapies Group and Restorative Therapies Group, second quarter revenue growth would have been 4 percent on a comparable, constant currency basis. As reported, second quarter GAAP net income and diluted earnings per share (EPS) were $2.017 billion and $1.48, respectively. As detailed in the financial schedules included through the link at the end of this release, second quarter non-GAAP net income and diluted EPS were $1.456 billion and $1.07, decreases of 7 percent and 4 percent, respectively. Adjusting for the divestiture, a positive 1 cent impact from foreign currency, and the approximate 3 cent impact from Hurricane Maria, second quarter n Continue reading >>

Globenewswire: Medtronic Reports Third Quarter Financial Results

Globenewswire: Medtronic Reports Third Quarter Financial Results

Medtronic Reports Third Quarter Financial Results Revenue of $7.4 Billion Increased 1% as Reported; 7% at Comparable, Constant Currency GAAP Diluted LPS of $1.03; Non-GAAP Diluted EPS of $1.17 Company Reiterates Full Year Revenue and EPS Guidance DUBLIN-February 20, 2108 - Medtronic plc (NYSE: MDT) today announced financial results for its third quarter of fiscal year 2018, which ended January 26, 2018. The company reported third quarter worldwide revenue of $7.369 billion, an increase of 1 percent as reported, or 7 percent on a comparable, constant currency basis, which adjusts for the divestiture of its Patient Care, Deep Vein Thrombosis (Compression), and Nutritional Insufficiency businesses to Cardinal Health that occurred in the second quarter, and a $177 million positive impact from foreign currency. As reported, third quarter GAAP net loss and loss per share (LPS) were $1.389 billion and $1.03, respectively. GAAP results included a $2.2 billion net charge primarily related to the U.S. transition tax charge as part of U.S. tax reform. As detailed in the financial schedules included through the link at the end of this release, third quarter non-GAAP net income and diluted EPS were $1.592 billion and $1.17, increases of 3 percent and 4 percent, respectively. Adjusting for the divestiture and a negative 1 cent impact from foreign currency, third quarter non-GAAP diluted EPS increased 12 percent. Third quarter U.S. revenue of $3.912 billion represented 53 percent of company revenue and decreased 5 percent as reported, or increased 6 percent on a comparable basis. Non-U.S. developed market revenue of $2.355 billion represented 32 percent of company revenue and increased 7 percent as reported, or 5 percent on a comparable, constant currency basis. Emerging market reven Continue reading >>

Medtronic (mdt) Tops Q2 Earnings, Misses Revenue Estimate

Medtronic (mdt) Tops Q2 Earnings, Misses Revenue Estimate

Medtronic (MDT) Tops Q2 Earnings, Misses Revenue Estimate Are you a medical practitioner? Yes, then you must be aware of Minnesota-based one of the worlds leading medical technology giant Medtronic plc ( MDT - Free Report ) which has a global reach that extends to roughly 160 countries. Last year, more than 70 million people benefited from Medtronics medical therapies, which treat cardiac and vascular diseases, diabetes, and neurological and musculoskeletal conditions. Currently, Medtronic has a Zacks Rank #4 (Sell) but that could change following its positive first-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here ). We have highlighted some of the key details from the just-released announcement below: Earnings:The current Zacks Consensus Estimate stands at 99 cents per share. Medtronics adjusted earnings per share of $1.07 exceeded this estimate by 8.1%. Medtronic PLC Price and EPS Surprise | Medtronic PLC Quote Revenues:Medtronic posted revenues of $7.05 billion, missing the Zacks Consensus Estimate for revenues of $7.07 billion. Key Stats: Revenues from Medtronics Cardiac and Vascular Group rose 7% at Constant exchange Rate (CER) to $2.77 billion, revenues from Minimally Invasive Therapies Group increased 2% at CER to $1.95 billion. Also, revenues from Restorative Therapies Group rose 2% at CER to $1.86 billion, while revenues from Diabetes Group decreased 2% at CER to $462 million. Major Factors: Per management, second quarter performance was encouraging in spite of the company facing three hurricanes and the California wildfires. Manufacturing operations in Puerto Rico was affected by Hurricane Maria. The company delivered a sequential acceleration in the organic revenue gr Continue reading >>

Fy17 Integrated Performance Report Citizenship

Fy17 Integrated Performance Report Citizenship

FY17 Integrated Performance Report Citizenship Medtronic is leading the evolution of global healthcare with a transformative business strategy. Our approach combines meaningful innovation in therapies, products, and systems with value-based, cost-efficient healthcare models; and technologies and partnerships that open the door to quality care for more people around the world. This strategy has produced significant results. More than 65 million people benefited from Medtronic technologies two every seconds as we helped our customers deliver more seamless, integrated care for patients across the healthcare continuum. Learn more about our financial, social, and economic impact in the FY17 Integrated Performance Report . This annual report is organized primarily around our most material sustainability issues. These are global access to healthcare, product quality, product stewardship, responsible sourcing, and ethics in sales and marketing. Invested $2.2 billion in research and development, representing 7.4 percent of net sales Launched Medtronic Labs, a new initiative designed to deliver financially sustainable businesses that expand access and reduce health inequality in emerging markets Invested $139.7 million in capacity building and training for medical professionals and $22.6 million in patient education Donated $101.8 million to charitable causes through corporate cash contributions, giving through the Medtronic Foundation, product donations, and employee volunteering Invested more than $76 million in employee training and development programs Reached early achievement of four of our 2020 Environmental Performance Goals, including reductions in energy, emissions, waste, and water Read the FY17 Integrated Performance Report for a transparent overview of our social an Continue reading >>

Medtronic (mdt) Revenue And Net Income History

Medtronic (mdt) Revenue And Net Income History

Medtronic (MDT) Revenue and Net Income History Historical revenue, operating income and net income for Medtronic (MDT) over the last 10 years. The current revenue for Medtronic as of June 22, 2018 is $29.95B. Medtronic Public Limited Company, headquartered in Dublin, Ireland, is among the world's largest medical technology, services and solutions companies - alleviating pain, restoring health and extending life for millions of people around the world. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together. 2010-2018 Macrotrends LLC| Terms of Service | Privacy Policy | Contact Us Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. If you use our historical data on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Please check your download folder. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. We have provided a few examples below that you can copy and paste to your site: Continue reading >>

Medtronic Quarterly Revenue Beats, Margins Disappoint

Medtronic Quarterly Revenue Beats, Margins Disappoint

February 20, 2018 / 12:08 PM / 2 months ago Medtronic quarterly revenue beats, margins disappoint (Reuters) - Medical device maker Medtronic Plcs quarterly revenue beat analysts expectations as new product launches drove sales across its business units, but weaker-than-expected margins clouded the earnings report. Sales in its biggest business, the cardiac and vascular unit that sells defibrillators, pace-makers, heart valves and stents, jumped 10 percent to $2.8 billion, partly helped by a successful launch of its Evolut Pro transcatheter heart valve. The increasingly competitive market for transcatherter valves, used to replace diseased aortic valves without open-heart surgery, is expected to expand from $3 billion currently to $5 billion in 2021 as more types of patients get treated with the valves. Our revenue performance is highly dependent on new product launch process and when weve got new products, the revenue growth goes up quite significantly especially with respect to the market, said Chief Executive Officer Omar Ishrak. Analysts called the revenue beat well-rounded as all four of the companys business units topped expectations, but some questioned weakness in margins. Operating margin came in at 27.9 percent as reported, deteriorated by about 30 bps y/y. But this falls below us by about 30bps and the Street by about 100bps, potentially disappointing folks, Leerink Analyst Danielle Antalffy said. The companys shares were marginally down in early trading. Sales in the companys diabetes unit rose 17 percent to $584 million, as its new 670G system, which mimics some of the functions of a healthy pancreas, completed a priority access program. The company earned $1.17 per share excluding items in the quarter ended Jan. 26, in line with analysts expectations, acco Continue reading >>

Medtronic Reports Fourth Quarter And Fiscal Year 2018 Financial Results

Medtronic Reports Fourth Quarter And Fiscal Year 2018 Financial Results

Medtronic Reports Fourth Quarter And Fiscal Year 2018 Financial Results By GlobeNewswire, May 24, 2018, 06:45:00 AM EDT Q4 Revenue of $8.1 Billion Grew 2.9% Reported and 6.5% Organic Q4 GAAP Diluted EPS of $1.07; Q4 Non-GAAP Diluted EPS of $1.42 FY18 Revenue of $30.0 Billion Grew 0.8% Reported and 4.6% Organic FY18 GAAP Diluted EPS of $2.27; FY18 Non-GAAP Diluted EPS of $4.77 DUBLIN - May 24, 2018 -Medtronic plc (NYSE: MDT ) today announced financial results for its fourth quarter and fiscal year 2018, which ended April 27, 2018. The company reported fourth quarter worldwide revenue of $8.144 billion, an increase of 2.9 percent as reported, or 6.5 percent on an organic basis, which adjusts for the divestiture of its Patient Care, Deep Vein Thrombosis (Compression), and Nutritional Insufficiency businesses to Cardinal Health that occurred in the second quarter, and a $315 million positive impact from foreign currency. As reported, fourth quarter GAAP net income and diluted earnings per share (EPS) were $1.460 billion and $1.07, respectively. As detailed in the financial schedules included through the link at the end of this release, fourth quarter non-GAAP net income and diluted EPS were $1.942 billion and $1.42, increases of 6 percent and 7 percent, respectively. Adjusting for the divestiture and a negative 2 cent impact from foreign currency, fourth quarter non-GAAP diluted EPS increased 15 percent. Fourth quarter U.S. revenue of $4.187 billion represented 52 percent of company revenue and decreased 4.9 percent as reported, while it increased 5.3 percent on a comparable basis, which adjusts for the divestiture. Non-U.S. developed market revenue of $2.718 billion represented 33 percent of company revenue and increased 10.8 percent as reported and 4.6 percent on a compa Continue reading >>

Medtronic Aims For 4% Growth Through Consolidation, High-tech And Direct-to-customer Deals

Medtronic Aims For 4% Growth Through Consolidation, High-tech And Direct-to-customer Deals

Medtronic aims for 4% growth through consolidation, high-tech and direct-to-customer deals The $30 billion medical equipment manufacturer hopes to grow adjusted earnings per share by 8% and return at least half of its free cash flow to shareholders, according to its biennial investor day presentation. (Medtronic) Medtronic will target 4% annual increases in revenue through investments in higher-growth technology markets, according to an outline of its plans presented at its biennial investor gathering this week in New York City. And to increase savings in global operations, Medtronic plans to continue consolidating its manufacturing footprintdown from 92 sites a few years agoto about 55 in the next few yearsas well as reduce its supply chain base by about 50%. Currently the company maintains about 70 sitesand plans to leverage contract manufacturing where appropriate. As a result, the $30 billion medical equipment maker hopes to grow adjusted earnings per share by 8%, expand its underlying operating margin by 40 to 50 basis points, and return at least half of its free cash flow to shareholders, among other long-range financial goals. Medtronic also expects continued growth from its emerging market businesses. Enjoying this story? Subscribe to FierceBiotech! Biopharma is a fast-growing world where big ideas come along every day. Our subscribers rely on FierceBiotech as their must-read source for the latest news, analysis and data in the world of biotech and pharma R&D. To read on the go, sign up today to get biotech news and updates delivered right to your inbox! Continue reading >>

Medtronic Reports First Quarter Financial Results

Medtronic Reports First Quarter Financial Results

Medtronic Reports First Quarter Financial Results DUBLIN - August 22, 2017 - Medtronic plc (NYSE: MDT) today announced financial results for its first quarter of fiscal year 2018, which ended July 28, 2017. The company reported first quarter worldwide revenue of $7.390 billion, compared to the $7.166 billion reported in the first quarter of fiscal year 2017, an increase of 3 percent, or 4 percent on a constant currency basis. Foreign currency had a negative $33 million impact on first quarter revenue. As reported, first quarter GAAP net income and diluted earnings per share (EPS) were $1.016 billion and $0.74, respectively. As detailed in the financial schedules included through the link at the end of this release, first quarter non-GAAP net income and diluted EPS were $1.541 billion and $1.12, an increase of 7 percent and 9 percent, respectively. After adjusting for the negative 2 cent impact from foreign currency, non-GAAP diluted EPS increased 11 percent. First quarter U.S. revenue of $4.042 billion represented 55 percent of company revenue and increased 1 percent. Non-U.S. developed market revenue of $2.313 billion represented 31 percent of company revenue and increased 4 percent, or 5 percent on a constant currency basis. Emerging market revenue of $1.035 billion represented 14 percent of company revenue and increased 11 percent, or 12 percent on a constant currency basis. "The strength of our diversification and solid underlying performance of our businesses, combined with the stable growth of our end markets, enabled us to manage the impact of a global IT system disruption and temporary Diabetes sensor supply constraint," said Omar Ishrak, Medtronic chairman and chief executive officer. "While these temporary issues had affected first quarter revenue growth, we Continue reading >>

Medtronic Plc (mdt) | Revenues

Medtronic Plc (mdt) | Revenues

Medtronic sells its products through direct sales representatives and independent distributors. Medtronic recognizes revenue when title to the goods and risk of loss transfers to customers, which may be upon shipment or upon delivery to the customer site, based on the contract terms or legal requirements, provided there are no material remaining performance obligations required of Medtronic or any matters requiring customer acceptance. In cases where Medtronic utilizes distributors or ships product directly to the end user, revenue is recognized upon shipment provided all revenue recognition criteria have been met. A portion of Medtronic's revenue is generated from inventory maintained at hospitals or with field representatives. For these products, revenue is recognized at the time the product has been used or implanted. Medtronic recognizes estimated sales returns, discounts, and rebates as a reduction of sales in the same period revenue is recognized. Rebates are estimated based on sales terms, historical experience, and trend analysis. In estimating rebates, Medtronic considers the lag time between the point of sale and the payment of the rebate claim, contractual commitments, including stated rebate rates, and other relevant information. Medtronic adjusts reserves to reflect differences between estimated and actual experience, and records such adjustment as a reduction of sales in the period of adjustment. In certain circumstances, Medtronic enters into arrangements in which multiple deliverables are provided to customers. Under multiple deliverable arrangements, Medtronic recognizes revenue in accordance with the principles described above and allocates the revenue based on the relative selling price of each deliverable, which is based on vendor specific objective Continue reading >>

Medtronic Revenue Gets Burned By Hurricane And Fire

Medtronic Revenue Gets Burned By Hurricane And Fire

Editor's note: This story has been updated to include a statement from Medtronic. Medtronic said late last week that Hurricane Maria may have damaged its fiscal 2018 second-quarter revenue and non-GAAP net earnings by up to $250 million. As if that weren’t bad enough, the company now faces potential impact from the deadly wildfires tearing through Northern California. According to a Star Tribune report, Medtronic evacuated buildings in Santa Rosa, CA on Monday in response to the fires that have ravaged through the area. The company has four facilities in the Santa Rosa and the Sonoma County region that could be affected by the fires, according to the report. In an email to MDDI Qmed on Wednesday, Medtronic spokesperson Wendy Dougherty said the company's priority right now is the safety of Medtronic employees and their families who live in the area, many of whom are being evacuated. "On an ongoing basis, we are accounting for and keeping in contact with employees in the area. All facilities in the area are closed until further notice. Our thoughts are with our employees, their families, and the entire Sonoma and Napa communities impacted by the wildfires," Dougherty said. Monday's evacuation came just three days after Medtronic provided an update on the estimated financial impact from Hurricane Maria in the second quarter. While the company expects some non-recurring expenses directly related to the recovery efforts in Puerto Rico to be excluded from its non-GAAP earnings, expenses related to the impact outside of Puerto Rico will be considered operating expenses. It's too early to determine the ongoing impact, if any, from Hurricane Maria beyond the second quarter, Medtronic said. Each of Medtronic's four business groups has some level of manufacturing across four maj Continue reading >>

How Medtronic Makes Money

How Medtronic Makes Money

If you were starting a business from scratch with the intention of it going global, you could do worse than zeroing in on medical devices. The industry featurescustomer base numbers in the hundreds of millions, and almost all the purchasing is done via thirdparties. Medtronic( MDT ), the $108billion Dublin/Minneapolis-based global entity, exemplifies the industry, selling medical devices in 160 countries while turning a profit of $4billion on revenues of $29.7billion in 2017. Medtronics four major reporting segments according to its latest annual reportare cardiac and vascular; minimally invasive therapies; restorative therapies; and diabetes. Cardiac and vascular accounted for$10.5billion of salesin fiscal year 2017. The cardio and vascular operations are further divided into subgroups that manage the following types of diseases: cardiac rhythm and heart failure; coronary and structural heart; and aortic and peripheral vascular. The cardiac and vascular division makes, among many other devices, pacemakers and defibrillators. The cost of traditional pacemakers average $2,500, according to the Alliance of Cardiovascular Professionals, while a defibrillatorcan run about $2,000. Almost always its going to be an insurer or medical provider thats footing the bill. Other heart products in the Medtronic line include cryoballoons, which freeze heart tissue thats responsible for irregular beats. Such devices are prohibitively expensive for personal use, although it's highly unlikely that a patient with an irregular heartbeat would be administering their own cryoballoon anyway. Instead the devices are sold to hospitalsenabling thousands of patients to be treated. Medtronic makes other devices that would have been the stuff of science fiction to the eyes of the companys nineteent Continue reading >>

Medtronic Plc Revenue Growth Rates (mdt), Current And Historic Growth - Csimarket

Medtronic Plc Revenue Growth Rates (mdt), Current And Historic Growth - Csimarket

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. Free Stock Market News Feeds Copyright 2018 CSIMarket, Inc. All rights reserved. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy) Intraday Data provided by Barchart and subject to terms of use. To view Intraday Stock Data Java must be installed. Java content may be prohibited by the security software, to see the stock quotes, choose "allow content from this page" option.Stock Price, historical and current end-of-day data provided by eoddata. Intraday data delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Barchart and Eoddata. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com CSIMarket.com 1500 N. University Drive, Coral Springs, FL 33071 Continue reading >>

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