Medtronic surpasses Zacks' estimates of Q4 earnings, 2016 revenues: 6 points

Spinal Tech

Medtronic's adjusted earnings-per-share for the fourth quarter and fiscal year 2016 ranked above Zacks Consensus Estimate, according to Zacks.

Here are six points:

 

1. The fourth quarter EPS hit $1.27, an increase of 9.5 percent year-over-year.

 

2. The company's full-year adjusted earnings hit $4.37 per share, a 2 percent increase from the same time last year.

 

3. Medtronic's worldwide revenues in the fourth quarter grossed $7.57 billion, an increase of 6 percent year-over-year. The top line surpassed Zacks Consensus Estimate of $7.48 billion.

 

4. Full-year 2016 total revenue reached $28.83 billion, a 7 percent increase from last year. The Zacks Consensus Estimate for full-year 2016 total revenue fell short at $28.75 billion.

 

5. Medtronic's U.S. sales increased 4 percent year-over-year to $4.22 billion in the fourth quarter.

 

6. Zacks concluded the company ended fiscal 2016 strongly, but Medtronic will face significant currency headwinds in fiscal 2017.

 

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Featured Podcast

Featured Whitepapers