Medtronic should report higher than expected Q4 EPS, says Bernstein Bernstein predicts that Medtronic will report slightly higher than expected Q4 EPS but in-line sales. The firm thinks the company is on track to generate mid-single digit sales growth, driving a re-re-rating of the stock. The firm keeps a $70 price target and Outperform rating on the shares.
Medtronic to acquire Twelve for $458M In support of the company's therapy innovation strategy, Medtronic announced that it has signed a definitive agreement to acquire Twelve, a medical device company focused on the development of a transcatheter mitral valve replacement, or TMVR device. Twelve is the twelfth company spun out from the premier medical device incubator The Foundry. Medtronic has agreed to pay up to $458M for Twelve including $408M at closing and $50M on achievement of CE Marking. The cash- and debt-free transaction remains subject to customary closing conditions, and is expected to close in October 2015.