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January 7, 2013
12:54 EDTMDTMedtronic raises low end of FY13 outlook for tax credit
Medtronic confirmed in a press release that it tightened its FY13 earnings guidance range to $3.66-$3.70 from the previously stated range of $3.62-$3.70. The new range implies annual EPS growth of 6%-7%. Management indicated that the company's updated guidance is based on the positive financial impact from the recent renewal of the U.S. Research and Development tax credit. As previously stated, management estimates the R&D tax credit to have a positive annual earnings and EPS impact of approximately $30M-35M and 4c, respectively. Due to retroactive accounting treatment, the company expects to realize 3c of diluted EPS benefit in Q3, and 1c in Q4, of FY13.
News For MDT From The Last 14 Days
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January 23, 2015
16:33 EDTMDTMedtronic reports 5.1% passive stake in Intersect ENT
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15:46 EDTMDTPiper Jaffray's medtech analysts hold an analyst/industry conference call
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08:36 EDTMDTMedtronic receives FDA approval for for the Medtronic Enterra II System
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January 21, 2015
18:06 EDTMDTS&P announces changes to the S&P 500, MidCap 400, SmallCap 600 indices
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January 12, 2015
13:02 EDTMDTMedtronic sees Coviden deal closing in last week of January, early February
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