{"id":52869,"date":"2023-08-25T08:33:32","date_gmt":"2023-08-25T12:33:32","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/should-you-buy-medtronic-stock-after-a-q1-beat\/"},"modified":"2023-08-25T08:33:34","modified_gmt":"2023-08-25T12:33:34","slug":"should-you-buy-medtronic-stock-after-a-q1-beat","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52869","title":{"rendered":"Should You Buy Medtronic Stock After A Q1 Beat?"},"content":{"rendered":"
\n

Medtronic stock<\/strong> (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic
\n MDT
\n <\/fbs-ticker> recently reported its Q1 fiscal 2024 (fiscal ends in April) results, which were better than the street estimates. Despite its recent uptick, investors will likely be better off buying Medtronic for reasonable gains in the long run, given its attractive valuation, as discussed below.<\/p>\n

Interestingly, MDT stock had a Sharpe Ratio of 0.1<\/strong> since early 2017, lower than 0.6<\/strong> for the S&P 500 Index over the same period. It compares with the Sharpe of 1.3<\/strong> for the Trefis Reinforced Value portfolio. Sharpe is a measure of return per unit of risk, and high-performance portfolios can provide the best of both worlds.<\/p>\n

Medtronic\u2019s revenues<\/strong> were up 4.5% to $7.7 billion in fiscal Q1\u201924. The Cardiovascular and Medical Surgical revenue grew 5.5%, Neuroscience was up 4.9%, and Diabetes sales were up 6.8%. The Diabetes segment benefited from the increased adoption of its MiniMed 680G insulin system in the international markets. 780G was also launched in the U.S. along with Micra AV2 and Micra VR2 leadless pacemakers.<\/p>\n

The company\u2019s adjusted operating margin improved by 90 bps to 24.8%, partly due to lower R&D expenses. The earnings of $1.20 on a per-share and adjusted basis were up 6% from $1.13 in the prior-year quarter and compares with the consensus estimate of $1.11. The rise in earnings can be attributed to higher sales and improved operating margins.<\/p>\n

<\/fbs-ad><\/p>\n

Not only did Medtronic exceed the street expectations in Q1, but it also raised its full-year outlook. It now expects its fiscal 2024 sales to rise 4.5% (organic) vs. its earlier estimate of 4.0% to 4.5% growth. It also raised its earnings outlook to be in the range of $5.08 to $5.16 on a per-share and adjusted basis, compared to its prior range of $5.00 to $5.10.<\/p>\n

We have updated our model to reflect the latest quarterly performance and expect the company to post sales of $32.3 billion in fiscal 2024, reflecting 3% y-o-y growth. We believe that Medtronic will benefit from the launch of its new products, primarily MiniMed 780G in the U.S. The company\u2019s focus on cost-cutting and an improved supply chain situation will bolster its operating margin growth. Looking at the stock price, we estimate Medtronic\u2019s Valuation<\/strong> to be $97 per share, about 15% above the current market price of $84. At its current levels, MDT stock is trading at 16x its expected forward earnings of $5.09 on a per share and adjusted basis for full-fiscal 2024, compared to the last four-year average of 20x, implying ample room for growth.<\/p>\n

While MDT stock looks like it can see higher levels, it is helpful to see how Medtronic\u2019s Peers<\/strong> fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons<\/strong>.<\/strong><\/p>\n

Invest with Trefis <\/strong>Market Beating Portfolios<\/strong><\/p>\n

See all Trefis <\/strong>Price Estimates<\/strong><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Medtronic stock (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic MDT recently reported its Q1 fiscal 2024 (fiscal ends in April) results, which were better than the street estimates. Despite its recent uptick, investors will likely be better off buying Medtronic for reasonable gains in […]<\/p>\n","protected":false},"author":1,"featured_media":30746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-52869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nShould You Buy Medtronic Stock After A Q1 Beat? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Medtronic stock (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic MDT recently reported its Q1\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=52869\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Should You Buy Medtronic Stock After A Q1 Beat? | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Medtronic stock (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic MDT recently reported its Q1\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=52869\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-25T12:33:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-25T12:33:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1688388788_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=52869#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=52869\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Should You Buy Medtronic Stock After A Q1 Beat?\",\"datePublished\":\"2023-08-25T12:33:32+00:00\",\"dateModified\":\"2023-08-25T12:33:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=52869\"},\"wordCount\":475,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=52869#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=52869\",\"url\":\"https:\/\/ifintechworld.com\/?p=52869\",\"name\":\"Should You Buy Medtronic Stock After A Q1 Beat? | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-25T12:33:32+00:00\",\"dateModified\":\"2023-08-25T12:33:34+00:00\",\"description\":\"Medtronic stock (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic MDT recently reported its Q1\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=52869#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=52869\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=52869#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Should You Buy Medtronic Stock After A Q1 Beat?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Should You Buy Medtronic Stock After A Q1 Beat? | iFintechWorld","description":"Medtronic stock (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic MDT recently reported its Q1","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=52869","og_locale":"en_US","og_type":"article","og_title":"Should You Buy Medtronic Stock After A Q1 Beat? | iFintechWorld","og_description":"Medtronic stock (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic MDT recently reported its Q1","og_url":"https:\/\/ifintechworld.com\/?p=52869","og_site_name":"iFintechWorld","article_published_time":"2023-08-25T12:33:32+00:00","article_modified_time":"2023-08-25T12:33:34+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1688388788_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=52869#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=52869"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Should You Buy Medtronic Stock After A Q1 Beat?","datePublished":"2023-08-25T12:33:32+00:00","dateModified":"2023-08-25T12:33:34+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=52869"},"wordCount":475,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=52869#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=52869","url":"https:\/\/ifintechworld.com\/?p=52869","name":"Should You Buy Medtronic Stock After A Q1 Beat? | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-25T12:33:32+00:00","dateModified":"2023-08-25T12:33:34+00:00","description":"Medtronic stock (NYSE: MDT) gained 2% in a week, faring slightly better than the broader S&P500 index, up 0.5%. Medtronic MDT recently reported its Q1","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=52869#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=52869"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=52869#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Should You Buy Medtronic Stock After A Q1 Beat?"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/52869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52869"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/52869\/revisions"}],"predecessor-version":[{"id":52870,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/52869\/revisions\/52870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/30746"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}