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Medtronic PLC MDT Stock Quote

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Morningstar‘s Stock Analysis MDT

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Is it the right time to buy or sell?

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INVESTOR

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Economic Moat

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Capital Allocation

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Wide Economic Moat Helps Medtronic Withstand Near-Term Challenges; No Change to Our FVE

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

Medtronic posted fiscal 2023 first-quarter results that exceeded FactSet consensus expectations but ran slightly behind our full-year estimates. However, our adjustments to near-term projections weren’t enough to materially shift our fair value estimate. Compared with the larger medical device market, Medtronic’s quarterly 3% revenue decline in constant currency trailed growth at other industry leaders. One factor appears to be Medtronic’s relatively larger portfolio of electronic devices where manufacturing has been hampered by microchip shortages that are expected to remain challenging through the calendar year. Nonetheless, we remain confident of Medtronic’s wide economic moat and see evidence of it at work in the quarter.

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Key Statistics MDT

Company Profile MDT

Business Description

One of the largest medical device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for almost 50% of the company's total sales.

Contact
Lower Hatch Street, 20 On Hatch
Dublin, 2, Ireland
T +353 14381700
Industry Medical Devices
Most Recent Earnings Jul 31, 2022
Fiscal Year End Apr 29, 2023
Employees 95,000

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