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Medtronic will share its latest quarterly results on September 1. Analysts are looking for earnings of about 1.39 dollars per share. The company has a long streak of meeting or beating these expectations, having done so for eight quarters in a row. Beyond the raw numbers, the focus remains on the company's shift toward high-growth technology. We will be watching for updates on the Hugo robotic surgery system and the diabetes business, which are the main engines for the faster growth management has promised.
The board of directors approved a dividend of 0.72 dollars per share for the second quarter. This payment is in line with the raise the company announced back in June. For a large medical device maker like Medtronic, these steady payouts are a routine way to return cash to shareholders while it continues to invest in new products.
Source: PRNewsWire
Medtronic has received an expanded CE Mark, which is the regulatory approval required to sell medical devices in Europe, for its Affera mapping and ablation system. This allows the device to be used for treating ventricular arrhythmias, a condition where the heart beats with an irregular or fast rhythm in its lower chambers.
The system uses a specialized catheter to create a map of the heart and then delivers energy to tiny areas of heart tissue to block irregular electrical signals. This approval is a step forward for the company's cardiovascular portfolio as it works to roll out this technology globally and continues trials for similar use in the United States.
Source: PRNewsWire
UBS has upgraded its rating on Medtronic from Neutral to Buy and set a price target of $100. This move signals that the firm's analysts believe the stock is undervalued at its current price near $86.
This upgrade comes as the company continues its shift toward higher-growth areas like robotic surgery and diabetes care. A target of $100 implies the analysts expect the business to earn more or be valued more highly as these newer technologies begin to contribute more to the bottom line.
Source: UBS
Medtronic introduced Touch Surgery Aide, a new computing platform for operating rooms built using technology from the chipmaker NVIDIA. The system is designed to provide real-time artificial intelligence support to surgeons, helping them make decisions during a procedure.
The platform includes an FDA-cleared application that helps track surgical instruments. This launch is a key part of the company's strategy to win more of the robotic surgery market by offering better digital tools than its competitors, which could help make complex surgeries more predictable and personalized.
Source: PRNewsWire
Analysts have kept a steady pace of updates for Medtronic throughout the summer. Most analysts, 31 of 51, rate the stock a buy, and the average target of $94 is essentially equal to the current price.
Management has cleared its own profit targets for eight straight quarters. This pattern shows a team that sets conservative bars and consistently delivers on them.
| Expectation | |
|---|---|
| EPS | $1.39 |
| Revenue | $9.55B |