Skip to Content
Global News Select

Medtronic Earnings Jump on Sales Recovery

By Matt Grossman


Medtronic PLC Thursday posted 37% sales growth in its fiscal fourth quarter as its end markets recovered from the effects of the pandemic, driving a doubling in the company's per-share earnings.

The Ireland-based medical-technology company posted earnings of $1 a share, an improvement from 48 cents a share in the same three-month period a year earlier. Net income attributed to the company rose to $1.36 billion, from $646 million in the year-ago quarter.

Adjusted for one-time items and currency factors, Medtronic's profit was $1.50 a share. Analysts polled by FactSet had forecast adjusted earnings of $1.42 a share.

Sales were $8.19 billion, a rise from $6 billion in the year-ago period. Analysts were estimating sales of $8.14 billion.

Revenue rose by double-percentages across the company's portfolio, including a 45% improvement in cardiovascular sales, a 21% increase in medical-surgical sales and a 54% rise in neuroscience sales. Diabetes sales were up by 14%.


Write to Matt Grossman at


(END) Dow Jones Newswires

May 27, 2021 07:19 ET (11:19 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.