Uploaded by FinancialNewsOnline on Nov 21, 2011
Medtronic (NYSE:MDT) is expected to report Q2 earnings before the market open on Tuesday, November 22 with a conference call scheduled for 8am ET.
Analysts are looking for EPS of $0.82 on revenue of $4.07 billion. The consensus range is $0.79-$0.84 for EPS, and $4.01 billion-$4.13 billion for revenue, according to First Call. Positive catalysts for the company could include increasing revenue from its transcatheter aortic valve implants, renal denervation, and atrial fibrillation products.
Johnson & Johnson's (NYSE:JNJ) departure from the stent business may also prove to be a revenue tailwind for Medtronic. Negative drivers continue to be the ICD and spine segment headwinds. On the company's Q1 earnings call the CEO warned about the effects of macro economic headwinds: "Although Medtronic possesses a number of strengths, it is clear that our industry is facing a very challenging environment. The macroeconomic conditions in many developed countries have led to constrained healthcare budgets and increased pressure on utilization."
On October 18, Cowen initiated Medtronic with an Outperform rating. On November 2, Medtronic was initiated with an Outperform rating at Credit Suisse with a price target of $45.
Analysts are looking for EPS of $0.82 on revenue of $4.07 billion. The consensus range is $0.79-$0.84 for EPS, and $4.01 billion-$4.13 billion for revenue, according to First Call. Positive catalysts for the company could include increasing revenue from its transcatheter aortic valve implants, renal denervation, and atrial fibrillation products.
Johnson & Johnson's (NYSE:JNJ) departure from the stent business may also prove to be a revenue tailwind for Medtronic. Negative drivers continue to be the ICD and spine segment headwinds. On the company's Q1 earnings call the CEO warned about the effects of macro economic headwinds: "Although Medtronic possesses a number of strengths, it is clear that our industry is facing a very challenging environment. The macroeconomic conditions in many developed countries have led to constrained healthcare budgets and increased pressure on utilization."
On October 18, Cowen initiated Medtronic with an Outperform rating. On November 2, Medtronic was initiated with an Outperform rating at Credit Suisse with a price target of $45.
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