Medtronic Inc. Quarterly Earnings Release on Deck

S&P 500 (NYSE:SPY) component Medtronic, Inc. (NYSE:MDT) will unveil its latest earnings tomorrow, November 22, 2011. Medtronic provides products and therapies for medical professionals.

Medtronic, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 82 cents per share, no change 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 83 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 82 cents during the last month. For the year, analysts are projecting profit of $3.44 per share, a rise of 2.1% from last year.

Past Earnings Performance: The company met estimates last quarter after beating the forecasts in the prior two. In the first quarter, the company reported net income of 79 cents per share versus a mean estimate of profit of 79 cents per share. In the fourth 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 $4.07 billion in revenue this quarter, a rise of 4.4% from the year ago quarter. Analysts are forecasting total revenue of $16.63 billion for the year, a rise of 4.4% 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.

A Look Back: In the first quarter, profit fell 1.1% to $821 million (77 cents a share) from $830 million (76 cents a share) the year earlier, meeting analyst expectations. Revenue rose 7.3% to $4.05 billion from $3.77 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 2.4% in the fourth quarter of the last fiscal year from the year earlier, climbed 2.9% in the third quarter of the last fiscal year from the year-ago quarter and 1.7% in the second quarter of the last fiscal year.

The company has seen net income fall in each of the last two quarters. Net income dropped 18.7% in the fourth quarter of the last fiscal year.

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 August 23, 2011 to November 21, 2011, the stock price had risen $.48 (1.4%) from $32.85 to $33.33. 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% (-$2.93) over that span. Shares are down $1.88 (-5.2%) year to date.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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