Medtronic Plc (MDT) has been thoroughly expanding its cardiovascular business, amidst macroeconomic woes. As per recent reports, it has outperformed its competitors by securing strong trading days. Its FY24 financial results reveal impressive full-year and Q3 performances and an increase in dividend. Although its stock dropped post-profit beats, investors show high interest towards the company. Concerns exist around fiscal health, impacting MDT's share price momentum. A decline report points to issues since MDT's last earnings, but prospects of rebound exist. Several asset management firms adjusted their stakes, with decreased and sold shares. Despite this, MDT raises FY24 guidance, reaffirming a positive outlook. High ownership is in institutional hands (86%), signaling confidence amongst the 'big guns'. Mounting debts could become an area of concern, though viewed as sensible by some. We note an FDA approval for Medtronic's newest-generation Evolut TAVR system for treatment of symptomatic severe. Following this news, Medtronic's stock experienced sustained gains. A software issue led to a StealthStation recall. The company's weaker-than-expected outlook following its quarterly results beat paired with decreased stock performance in comparison to competitors subjects MDT to scrutiny. The fiscal health of Medtronic is unclear, with unclear prospects. Forecasted EPS growth for FY 2025 and two approvals secured in Europe show optimism. Nevertheless, the stock performance is deemed dismal due to weak fundamentals.
Medtronic Plc MDT News Analytics from Tue, 22 Aug 2023 07:00:00 GMT to Sun, 09 Jun 2024 15:23:03 GMT -
Rating 3
- Innovation 2
- Information 5
- Rumor -4
