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News Breaks
11:19 EDTMDT
theflyonthewall.com: Earnings Preview: Medtronic could report solid Q2 with core business stabilizing
Medtronic (MDT) is expected to report Q2 earnings before the market opens on Tuesday, November 24 with a conference call scheduled for 8:00 am ET. Analysts are looking for a profit of 74c on revenue of $3.57B. The consensus range is 72c-77c for EPS, and revenue of $3.68B-$3.82B, according to First Call. Positive factors for this quarters results include a stabilization in the cardiac rhythm management business. Other positives for the quarter may come from stent sales, particularly from the company's popular Endeavor stent. In May, Medtronic said it expects FY10 revenue growth of 5%-8%. In early October, Piper Jaffray said that the the risk reward is favorable for Medtronic shares at current levels. Piper views Medtronic valuation as attractive and said concerns over healthcare reform are lessening. The firm said shares are Overweight rated. On November 5, Credit Suisse upgraded Medtronic and added it to its Focus List. The firm raised its target on shares to $49 from $41. Credit Suisse believes Medtronic's base business is stabilizing and the stock's risk/reward is compelling. :theflyonthewall.com



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February 8, 2010
08:39 EDTMDT
theflyonthewall.com: Edwards Lifesciences' new heart valve is less intrusive, IBD reports

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January 28, 2010
12:05 EDTMDT
theflyonthewall.com: Medtronic announces two late breaking clinical trials accepted
Medtronic announced pivotal data for the Medtronic Arctic Front CryoAblation Catheter System will be presented as a late breaking clinical trial at the 59th Annual Scientific Session of the American College of Cardiology on Monday, March 15 at 8 a.m. ET. The STOP-AF clinical trial is evaluating the safety and efficacy of the Arctic Front CryoAblation Catheter System for paroxysmal atrial fibrillation patients. The system is approved for use in Europe, Australia and Hong Kong and is under investigational use in the United States. Additionally, data from the Medtronic-sponsored CONNECT clinical trial also will be presented as a late breaker on Monday, March 15. The trial is assessing how the use of the Medtronic CareLink Network to remotely monitor patients with Medtronic cardiac resynchronization therapy-defibrillators and implantable cardioverter-defibrillators equipped with Conexus Wireless Telemetry might effectively enable better patient care and reduce unnecessary healthcare costs. :theflyonthewall.com