Medtronic Beats Profit And Sales Expectations

Medtronic PLC reported Tuesday fiscal fourth-quarter earnings of $1.1 billion, or 78 cents a share, compared with a loss of 1 million, or breakeven on a per-share basis in the same period a year ago. Excluding non-recurring items, adjusted earnings per share rose to $1.27 from $1.16, just above the FactSet consensus of $1.26. The Ireland-based medical technology company said revenue increased to $7.57 billion from $7.30 billion, above the FactSet consensus of $7.49 billion. For fiscal 2017, the company expects adjusted EPS of $4.60 to $4.70, compared with the FactSet consensus of $4.69. The stock, which was still inactive in premarket trade, has gained 6.2% year to date while the S&P 500 has tacked on 2.7%.

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