Medtronic Shares Jump High As Fiscal Q1 Earnings Beat Expectations

Shares of Medtronic PLC jumped more than 3 percent in pre-market trading on Tuesday after the world’s largest standalone medical equipment development company reported a better-than-expected earnings report for the last quarter.

Medtronic’s shares added 3.05 percent to trade at $81.31 before the opening bell on Tuesday, reversing higher after having closed Monday’s regular trading session in a sour note. The medical device company posted net income of $2.01 billion, or $1.48 a share, in its fiscal second quarter ended October 28th. The reading marked an advance compared to net income of $1.12 billion, or 80 cents a share, in the year-earlier period.

The company reported adjusted per-share earnings came of $1.07 on profit of $1.46 billion. Although the figure declined from $1.56 billion, or $1.12 per share, in last year’s second quarter, it surpassed analysts’ forecast for adjusted EPS of 98 cents.

Trade suggestion

Buy Stop at 81.35, Take profit at 82.00, Stop loss at 81.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

Write a Comment

Your email address will not be published. Required fields are marked *