Prev Arrow Stocks

Medtronic plc. ($MDT) Stock Forecast: Up 2.7% Today

Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.

What is Medtronic plc.?

Medtronic (MDT) is a leading medical device maker listed on the NYSE. The company reported a strong bullish movement in the market today.

Why is Medtronic plc. going up?

MDT stock is up 2.7% on Feb 20, 2024 15:36

  • Medtronic reported a 5% increase in revenue for Q3 2024, showcasing strong performance in its core business segments.
  • The decision to exit unprofitable ventilator product lines and focus on high-demand areas like diabetes and cardiac rhythm management has boosted investor confidence.
  • The company's adjusted earnings exceeding consensus estimates and raising full-year outlook has further contributed to the bullish market movement.
  • The positive earnings and revenue surprises have likely driven investor optimism and propelled the stock price higher.

MDT Price Chart

MDT News

Medtronic (MDT) Q3 2024 revenue rises 5%; adj. earnings flat

Medical device maker Medtronic plc (NYSE: MDT) reported an increase in revenues for the third quarter of 2024 when the company’s adjusted earnings remained unchanged year-over-year. Third-quarter earnings, excluding special […] The post Medtronic (MDT) Q3 2024 revenue rises 5%; adj. earnings flat first appeared on AlphaStreet .

https://news.alphastreet.com/medtronic-mdt-q3-2024-revenue-rises-5-adj-earnings-flat/

News Article Image Medtronic (MDT) Q3 2024 revenue rises 5%; adj. earnings flat

Medtronic To Exit Unprofitable Ventilator Product Line, Boosts Annual Guidance On Strong Demand

Tuesday, Medtronic Plc (NYSE: MDT ) reported third-quarter 2024 sales of $8.1 billion, up 4.7% year-on-year (Y/Y) as reported and 4.6% organic, slightly beating the consensus of $7.95 billion . “Our recent major product approvals – including transformative products in diabetes, cardiac rhythm management, neuromodulation, hypertension, and pulsed-field ablation spaces – increase our confidence in driving reliable growth over the coming quarters and years,” said Geoff Martha, Medtronic chairman, and CEO. The adjusted EPS of $1.30 exceeds the consensus of $1.26 . Medtronic’s heart device unit sales increased 6.1% Y/Y … Full story available on Benzinga.com

https://www.benzinga.com/news/earnings/24/02/37213380/medtronic-to-exit-unprofitable-ventilator-product-line-boosts-annual-guidance-on-strong-demand

News Article Image Medtronic To Exit Unprofitable Ventilator Product Line, Boosts Annual Guidance On Strong Demand

Medtronic Surges On Strong Beat, Outlook Boost

Medtronic Stock Surges After Easily Beating Quarterly Views. Raises Full-Year Outlook Investor's Business Daily ...

https://www.investors.com/news/technology/medtronic-stock-surges-after-easily-beating-quarterly-views-raises-full-year-outlook/

News Article Image Medtronic Surges On Strong Beat, Outlook Boost

Futures Slide As Focus Turns To Nvidia Earnings Tomorrow

Futures Slide As Focus Turns To Nvidia Earnings Tomorrow After a flat Monday when US cash market were closed for President''s Day, equity futures are pointing to a lower open on Tuesday as the latest earnings reports and corporate news failed to shake concerns about higher-for-longer interest rates and the faltering Chinese economy, while markets braced for the main event: tomorrow''s NVDA earnings after the close. As of 8:00am contracts on the S&P 500 fall 0.3% but rebounded from session lows and were trading just above 5,000; Nasdaq 100 futures lost 0.5%. European stocks were mixed while Asian stocks pulled back from their highest level since April 2022 amid a lack of positive momentum, with a reduction in China’s mortgage reference rate failing to lift sentiment. 10Y yields dropped 1 basis point from Friday''s close (cash Treasuries were closed on Monday), while gold rose, the dollar dipped and bitcoin traded back over $52,000 erasing overnight losses. The only notable macro event today is the Leading Index (exp.-0.3, last -0.1).

https://www.zerohedge.com/markets/futures-slide-focus-turns-nvidia-earnings-tomorrow

News Article Image Futures Slide As Focus Turns To Nvidia Earnings Tomorrow

Medtronic ( MDT ) Q3 Earnings and Revenues Beat Estimates

Medtronic (MDT) delivered earnings and revenue surprises of 3.17% and 1.73%, respectively, for the quarter ended January 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2228310/medtronic-mdt-q3-earnings-and-revenues-beat-estimates

News Article Image Medtronic  ( MDT )  Q3 Earnings and Revenues Beat Estimates

Medtronic plc. Price History

20.01.2024 - MDT Stock was up 2.7%

  • Medtronic reported a 5% increase in revenue for Q3 2024, showcasing strong performance in its core business segments.
  • The decision to exit unprofitable ventilator product lines and focus on high-demand areas like diabetes and cardiac rhythm management has boosted investor confidence.
  • The company's adjusted earnings exceeding consensus estimates and raising full-year outlook has further contributed to the bullish market movement.
  • The positive earnings and revenue surprises have likely driven investor optimism and propelled the stock price higher.

21.10.2023 - MDT Stock was up 2.0%

  • Medtronic reported strong financial results for its second quarter of fiscal year 2024, with worldwide revenue increasing by 5.3% as reported and 5.0% on an organic basis.
  • The company raised its full-year outlook after doubling its profit and experiencing revenue growth in Q2.
  • The diabetes segment outperformed expectations, contributing to the positive financial results and prompting Medtronic to raise its outlook.
  • Overall, the bullish market movement of Medtronic's stock can be attributed to the company's strong financial performance and positive outlook, particularly driven by the success of its diabetes segment.

11.09.2023 - MDT Stock was down 1.8%

  • Today, Medtronic (MDT) experienced a strong bearish movement in the stock market. This could be attributed to the following factors:
  • 1. Sustainability Report: The articles mention Medtronic's latest Sustainability Report, which highlights the company's efforts to make progress on environmental, social, and governance (ESG) issues. While sustainability initiatives are generally positive, the market may have reacted negatively to specific challenges or concerns outlined in the report.
  • 2. Market Performance: The article states that Medtronic's stock sank while the overall market was gaining. This suggests that there may be specific factors affecting Medtronic's performance, such as disappointing financial results, regulatory issues, or negative market sentiment towards the healthcare sector.
  • 3. Share Holdings: an article from EIN News Finance mentions that SevenBridge Financial Group LLC raised its holdings in Medtronic. While increased holdings can be seen as a positive indicator, it is possible that the market interpreted this as a sign of potential selling pressure or lack of confidence in the company's future prospects.
  • 4. Overall Market Conditions: It is important to consider the broader market conditions and trends when assessing the movement of a specific stock. Factors such as economic indicators, geopolitical events, or industry-specific news can influence investor sentiment and impact the performance of individual stocks like Medtronic.

18.08.2023 - MDT Stock was up 1.8%

  • Medtronic's stock had a strong bullish movement today, possibly driven by the following factors:
  • Partnership announcements: The partnership between GE HealthCare and Mayo Clinic to accelerate work on imaging and AI, as well as FluidAI Medical teaming up with Medtronic for remote monitoring, could have generated positive sentiment and excitement about potential advancements in healthcare technology.
  • Growth potential: The article mentioning investors looking for growth stocks ahead of the next bull market might have attracted investors' attention to Medtronic, considering its position in the healthcare industry and potential for future growth.
  • Overall market sentiment: The bullish movement in the overall market could have influenced the positive movement in Medtronic's stock, as investors may have been more optimistic and willing to invest in various sectors, including healthcare.

22.07.2023 - MDT Stock was up 2.7%

  • The bullish movement in MDT stock today can be attributed to the following factors:
  • 1. Strong Q1 FY24 Performance: Medtronic reported better-than-expected Q1 FY24 sales, with organic revenue growth of 6%. The company showcased broad strength across businesses and geographies, driven by improved underlying fundamentals. The positive performance in Medtronic's heart device unit sales and spine & neurosurgery product segment sales contributed to the bullish movement.
  • 2. Raised Forecast: Medtronic raised its annual forecast, indicating confidence in its future performance. The increased demand for heart devices played a significant role in powering the upbeat results and supporting the bullish market movement.
  • 3. Positive Market Sentiment: The overall market sentiment, with the NZD being the strongest currency and stocks showing an upward trend, may have also influenced the bullish movement in MDT stock. However, it is important to note that these factors are indirectly related to Medtronic's specific performance.
  • In conclusion, Medtronic's strong Q1 performance, raised forecast, and positive market sentiment contributed to the bullish movement in MDT stock today.

20.06.2023 - MDT Stock was up 2.1%

  • Medtronic experienced a strong bullish movement today.
  • The recall of certain heart failure devices may have initially caused some concern among investors, but it seems that the overall positive sentiment towards the company outweighed this issue.
  • The acquisition of EOFlow, a maker of insulin patches, and the expansion of Medtronic's product portfolio have likely contributed to the bullish movement.
  • The company's strong financial performance, with revenues exceeding expectations, could also be a driving factor behind the positive market movement.

03.06.2023 - MDT Stock was down 1.9%

  • Medtronic (MDT) experienced a strong bearish movement today.
  • The downgrade from a strong-buy rating to a buy rating by StockNews.com may have contributed to the bearish movement.
  • The article mentioning undervalued retirement stocks and sustainable earnings could have also influenced the market movement, as investors may have shifted their focus to other opportunities.
  • The news about the Heart-Lung Bypass Machine market size and the dividend stocks with massive payout ratios may not have directly impacted Medtronic's market movement.

25.04.2023 - MDT Stock was down 2.4%

  • Today, MDT had a strong bearish movement. This could be due to the following reasons:
  • Despite beating revenue expectations and raising their dividend, investors may have been disappointed with the marginal increase in dividend and may have expected more.
  • The acquisition of EOFlow may have caused uncertainty among investors as they may be unsure of the financial impact of the acquisition on MDT.
  • The overall market sentiment may have been bearish, causing MDT to also experience a bearish movement.
i
Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.