Medtronic, Inc. First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Medtronic, Inc. (NYSE:MDT) will unveil its latest earnings on Tuesday, August 23, 2011. Medtronic, Inc. provides products and therapies for medical professionals to meet the healthcare needs of their patients.

Medtronic, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 79 cents per share, a decline of 1.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 85 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 79 cents during the last month. For the year, analysts are projecting net income of $3.46 per share, a rise of 2.7% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of 90 cents per share versus a mean estimate of net income of 93 cents per share. In third quarter of the last fiscal year, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $3.98 billion in revenue this quarter, a rise of 5.6% from the year ago quarter. Analysts are forecasting total revenue of $16.57 billion for the year, a rise of 4% from last year’s revenue of $15.93 billion.

Analyst Ratings: Analysts seem relatively indifferent about Medtronic with 18 of 28 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has now gone up for three straight quarters. In fourth quarter of the last fiscal year, revenue rose 2.4% to $4.29 billion while the figure rose 2.9% in the third quarter of the last fiscal year from the year earlier and 1.7% in the second quarter of the last fiscal year.

The decrease in profit in the fourth quarter of the last fiscal year comes after net income rose in the previous quarter. In the fourth quarter of the last fiscal year, net income fell 18.7% to $776 million. In the third quarter of the last fiscal year, net income rose 11.2%.

Competitors to Watch: Boston Scientific Corp. (NYSE:BSX), St. Jude Medical, Inc. (NYSE:STJ), Edwards Lifesciences Corp (NYSE:EW), Johnson & Johnson (NYSE:JNJ), ZOLL Medical Corporation (NASDAQ:ZOLL), Abbott Laboratories (NYSE:ABT), Stryker Corporation (NYSE:SYK), Integra LifeSciences Hldgs. Corp. (NASDAQ:IART), CONMED Corporation (NASDAQ:CNMD), and Greatbatch Inc. (NYSE:GB).

Stock Price Performance: During May 23, 2011 to August 17, 2011, the stock price had fallen $8.38 (-20.4%) from $41 to $32.62. The stock price saw one of its best stretches over the last year between March 22, 2011 and March 30, 2011 when shares rose for seven-straight days, rising 4.7% (+$1.75) over that span. It saw one of its worst periods between May 18, 2011 and May 25, 2011 when shares fell for six-straight days, falling 6.9% (-$2.95) over that span. Shares are down $3.80 (-10.4%) year to date.

(Source: Xignite Financials)

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