Medtronic Earnings Face FX Headwinds, But Cardiac Trends Good
Medical-device giant Medtronic is due to report its fiscal Q1 earnings early Thursday, after reports from its peers indicated solid growth for the sector.
Analysts expect single-digit revenue and earnings growth on a constant-currency basis, but the foreign-exchange headwinds have them seeing an overall sales decline of 1.4% to $7.17 billion, with EPS dipping a penny to $1.01.
RBC Capital Markets analyst Glenn Novarro wrote Monday that recent Q2 reports from cardiac-device companies Boston Scientific, Edwards Lifesciences and St. Jude Medical signaled strength in the market that could drive an upside surprise from Medtronic's Cardiac & Vascular group.
Analysts expect single-digit revenue and earnings growth on a constant-currency basis, but the foreign-exchange headwinds have them seeing an overall sales decline of 1.4% to $7.17 billion, with EPS dipping a penny to $1.01.
RBC Capital Markets analyst Glenn Novarro wrote Monday that recent Q2 reports from cardiac-device companies Boston Scientific, Edwards Lifesciences and St. Jude Medical signaled strength in the market that could drive an upside surprise from Medtronic's Cardiac & Vascular group.