Tomahawk, WI 02/20/2014 (BasicsMedia) – Medtronic Inc. (NYSE:MDT) released its third quarter financial results for the fiscal year 2014 reporting third quarter revenue of $4.163 billion an increase of 4% on constant currency basis as compared to the same quarter last year however its higher expenses lead to a fall in its profit for the quarter as its net earnings reportedly were $762 million, or $0.75 per diluted share, which saw a decrease of 23 percent as compared to the same period last year.

Review of its financial report

Medtronic Inc. (NYSE:MDT) has seen a rise in its revenue for the quarter however the fall in its profit for the year has hugely affected Medtronic’s share prices after its third quarter financial report was released to the market. Medtronic reported its third quarter net earnings of $916 million and earnings per share of $0.91, posting a decrease in its net earnings and EPS as compared to the same period last year. The reasons given by Medtronic for a fall in its earnings per share are that the U.S. research and development tax credit as given to Medtronic was not renewed, Medtronic had to incur higher expenses relating to the medical device excise tax, and it also had to incur a large expense write down related to its renal denervation in-process research and development after it was formally announced that Medtronic’s HTN-3 trial did not meet the primary endpoint as envisioned by Medtronic. Although Medtronic Inc. (NYSE:MDT)’s diabetes segment saw major growth and rise in revenues due to introduction of various new products however Medtronic’s’ major segments like cardiac and vascular operation did not see much growth or rise in revenue for the quarter.

Medtronic Innovations and future

Medtronic Inc. (NYSE:MDT) has managed to be in the news for the innovations made by it time and again. In the last quarter Medtronic’s product the MiniMed 530G, which is an artificial pancreas system helped in increasing the revenues for Medtronic’s diabetes segment and recently Medtronic has declared that its product Reveal XT, a miniature “heart monitor that’s inserted beneath the skin on the chest, which detects more atrial fibrillation (AF) in stroke patients than regular approaches as has been detected by a study conducted by Medtronic on its said product. One of the major reasons AF cannot be detected is due to lack of symptoms however Medtronic’s study has found that its Reveal XT product is capable of detecting AF in 7.3 times more patients at 12 months and 8.8 times more patients at 36 months as compared to standard procedures for the same. With innovations as mentioned above Medtronic Inc. (NYSE:MDT)is a share worth buying and holding on to!

Tomahawk, WI 02/20/2014 (BasicsMedia) – Medtronic Inc. (NYSE:MDT) released its third quarter financial results for the fiscal year 2014 reporting third quarter revenue of $4.163 billion an increase of 4% on constant currency basis as compared to the same quarter last year however its higher expenses lead to a fall in its profit for the quarter as its net earnings reportedly were $762 million, or $0.75 per diluted share, which saw a decrease of 23 percent as compared to the same period last year.

 

Review of its financial report

 

Medtronic Inc. (NYSE:MDT) has seen a rise in its revenue for the quarter however the fall in its profit for the year has hugely affected Medtronic’s share prices after its third quarter financial report was released to the market. Medtronic reported its third quarter net earnings of $916 million and earnings per share of $0.91, posting a decrease in its net earnings and EPS as compared to the same period last year. The reasons given by Medtronic for a fall in its earnings per share are that the U.S. research and development tax credit as given to Medtronic was not renewed, Medtronic had to incur higher expenses relating to the medical device excise tax, and it also had to incur a large expense write down related to its renal denervation in-process research and development after it was formally announced that Medtronic’s HTN-3 trial did not meet the primary endpoint as envisioned by Medtronic. Although Medtronic Inc. (NYSE:MDT)’s diabetes segment saw major growth and rise in revenues due to introduction of various new products however Medtronic’s’ major segments like cardiac and vascular operation did not see much growth or rise in revenue for the quarter.

 

Medtronic Innovations and future

Medtronic Inc. (NYSE:MDT)has managed to be in the news for the innovations made by it time and again. In the last quarter Medtronic’s product the MiniMed 530G, which is an artificial pancreas system helped in increasing the revenues for Medtronic’s diabetes segment and recently Medtronic has declared that its product Reveal XT, a miniature “heart monitor that’s inserted beneath the skin on the chest, which detects more atrial fibrillation (AF) in stroke patients than regular approaches as has been detected by a study conducted by Medtronic on its said product. One of the major reasons AF cannot be detected is due to lack of symptoms however Medtronic’s study has found that its Reveal XT product is capable of detecting AF in 7.3 times more patients at 12 months and 8.8 times more patients at 36 months as compared to standard procedures for the same. With innovations as mentioned above Medtronic Inc. (NYSE:MDT)is a share worth buying and holding on to!

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