Medtronic Raises Guidance

Good news from Medtronic ($MDT) today. The company raised the lower end of their full-year guidance by four cents per share.

Ever since May, Medtronic has told us to expect fiscal year earnings to range between $3.62 and $3.70 per share. They’ve held firm to that forecast all year. Now they see earnings ranging between $3.66 and $3.70 per share.

Medtronic, which provided the update in conjunction with a presentation at the J.P. Morgan Healthcare Conference in San Francisco, estimated the tax credit will boost full-year earnings by $30 million to $35 million, or 4 cents a share. It expects about 3 cents in the third quarter and 1 cent in the fourth quarter of fiscal 2013.

The fiscal year ends in April, so Q3 earnings are due in about six weeks. For the first six months of this fiscal year, Medtronic earned $1.73 per share. That means we can expect $1.93 to $1.97 for the back end. Medtronic earned $3.46 per share last year.

Posted by on January 7th, 2013 at 1:56 pm

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