Medtronic Beats By a Penny and Narrows Range

Medtronic (MDT) just released a decent earnings report. After charges, earnings for their fiscal third quarter came in at 77 cents a share which was a penny higher than the Street. Sales rose 10% to $3.85 billion. More importantly, Medtronic narrowed the range of their 2010 estimate to $3.20 to $3.22 per share from $3.17 to $3.22 per share. The Street had been looking for $3.18. This means the stock is now going for 13.6 times 2010 earnings. Not bad.

Posted by on February 23rd, 2010 at 8:27 am


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