Short sellers are weeping today

[anonymous]

Medtronic's (MDT) turnaround is becoming more tangible, an analyst said Tuesday after the medtech giant beat Wall Street's forecasts, pushing MDT stock higher.

The star of Medtronic's fiscal second-quarter report was its new diabetes device, MiniMed 780G. This was the first full quarter following Medtronic's launch of the new glucose monitor and insulin pump. In the October quarter, sales of Medtronic's diabetes devices climbed 6.7% organically to $610 million.

"It may take some time for the diabetes unit to fully reach its potential in the U.S., as patients become aware of the new pump and as new products eventually come to market," Edward Jones analyst John Boylan said in a report. "But we believe the journey to predictable growth has begun."

In morning trading on today's stock market, MDT stock popped 3.7% higher near 77.90. Shares are working to retake their 50-day moving average, according to MarketSmith.com.

MDT Stock: Strong Growth Beyond Diabetes
During the fiscal second quarter, Medtronic's adjusted earnings fell 4% to $1.25 per share, but that still topped expectations for $1.18 a share, according to FactSet.com. Total sales climbed 5.3% on a strict, as-reported basis to $7.98 billion. Organically, sales rose 5%. MDT stock analysts forecasted just $7.93 billion in sales.

Beyond strong diabetes devices sales, Medtronic posted bullish growth for its cardiovascular portfolio. Sales jumped 4.8% organically to $2.92 billion. Neuroscience and medical surgical sales also jumped a respective 4.2% and 5.6%. Neuroscience products, which includes devices that treat pain, brought in $2.29 billion in sales. Medical surgical sales were $2.14 billion.

Medtronic also raised its outlook and now expects full-year organic sales growth of 4.75% vs. its prior call for 4.5%. The company also expects adjusted profit of $5.13 to $5.19 per share, up 4 cents from the earlier guide. MDT stock analysts forecasted earnings of $5.12 a share and $32.17 billion in sales.

"We are encouraged to see Medtronic string two good quarters together this fiscal year along with consecutive (earnings per share) guidance increases," Boylan said. "Some investors may wish to see another quarter or two of solid results before giving Medtronic credit for its improving operations. However, we believe the company's turnaround is becoming more tangible."

 

[anonymous]

In the span of 2 1/2 years the stock has dropped 42% and this guy wants to throw a parade because it’s nearing $80…

 

[anonymous]

LCOV to the rescues again ... SMH, get rid of losing MDT business OU's

 

[anonymous]

Look, earnings beat was driven by endless expense controls to Medtronic employees that actually do something important. Rather than send out a silly quarterly org health surveys, that are data massaged, talk to your employees directly about your decisions and actions.

 

[anonymous]

In the span of 2 1/2 years the stock has dropped 42% and this guy wants to throw a parade because it’s nearing $80…

Medtronic completed the merger with Covidien on January 27, 2015. The MDT closing stock price on that fateful day was $75.26. Today on November 22, 2023, the MDT stock closing price was $78.37, for a gain of 4% from the day of the completion of the Covidien merger.

Medtronic paid $42.9 billion to get Covidien. Medtronic's market cap at the time of the Coviden merger was $100 billion. Today it is $104 billion. Where did the $42.9 billion go? That money was evaporated thanks to a decade of mismanagement by GE alums Neutron Omar & Neutron Geoff.

Until Medtronic management acknowledges that the Coviden merger was a mistake & not worth it, Medtronic won't go anywhere. Since the architects of the Covidien merger are still running the show, they will never admit it.

 

[anonymous]

…it was worth it for the execs who sold their stock during the temporary stock price bump.

As long as they compensate execs with short term shares to avoid income taxes, they’ll continue to manage for short term stock bumps.

After all, the “purpose of a company is to maximize shareholder value”, and they’re the most important shareholders!

 

[anonymous]

Medtronic's (MDT) turnaround is becoming more tangible, an analyst said Tuesday after the medtech giant beat Wall Street's forecasts, pushing MDT stock higher.

The star of Medtronic's fiscal second-quarter report was its new diabetes device, MiniMed 780G. This was the first full quarter following Medtronic's launch of the new glucose monitor and insulin pump. In the October quarter, sales of Medtronic's diabetes devices climbed 6.7% organically to $610 million.

"It may take some time for the diabetes unit to fully reach its potential in the U.S., as patients become aware of the new pump and as new products eventually come to market," Edward Jones analyst John Boylan said in a report. "But we believe the journey to predictable growth has begun."

In morning trading on today's stock market, MDT stock popped 3.7% higher near 77.90. Shares are working to retake their 50-day moving average, according to MarketSmith.com.

MDT Stock: Strong Growth Beyond Diabetes
During the fiscal second quarter, Medtronic's adjusted earnings fell 4% to $1.25 per share, but that still topped expectations for $1.18 a share, according to FactSet.com. Total sales climbed 5.3% on a strict, as-reported basis to $7.98 billion. Organically, sales rose 5%. MDT stock analysts forecasted just $7.93 billion in sales.

Beyond strong diabetes devices sales, Medtronic posted bullish growth for its cardiovascular portfolio. Sales jumped 4.8% organically to $2.92 billion. Neuroscience and medical surgical sales also jumped a respective 4.2% and 5.6%. Neuroscience products, which includes devices that treat pain, brought in $2.29 billion in sales. Medical surgical sales were $2.14 billion.

Medtronic also raised its outlook and now expects full-year organic sales growth of 4.75% vs. its prior call for 4.5%. The company also expects adjusted profit of $5.13 to $5.19 per share, up 4 cents from the earlier guide. MDT stock analysts forecasted earnings of $5.12 a share and $32.17 billion in sales.

"We are encouraged to see Medtronic string two good quarters together this fiscal year along with consecutive (earnings per share) guidance increases," Boylan said. "Some investors may wish to see another quarter or two of solid results before giving Medtronic credit for its improving operations. However, we believe the company's turnaround is becoming more tangible."

 

[anonymous]

Medtronic completed the merger with Covidien on January 27, 2015. The MDT closing stock price on that fateful day was $75.26. Today on November 22, 2023, the MDT stock closing price was $78.37, for a gain of 4% from the day of the completion of the Covidien merger.

Medtronic paid $42.9 billion to get Covidien. Medtronic's market cap at the time of the Coviden merger was $100 billion. Today it is $104 billion. Where did the $42.9 billion go? That money was evaporated thanks to a decade of mismanagement by GE alums Neutron Omar & Neutron Geoff.

Until Medtronic management acknowledges that the Coviden merger was a mistake & not worth it, Medtronic won't go anywhere. Since the architects of the Covidien merger are still running the show, they will never admit it.

Omar did a half-decent job (other than anointing Boy Wonder Boy as his successor). Boy Wonder has been a complete disaster, including being the mastermind of the Covidien merger (which he claimed sole credit for).

 

[anonymous]

Omar did a half-decent job (other than anointing Boy Wonder Boy as his successor). Boy Wonder has been a complete disaster, including being the mastermind of the Covidien merger (which he claimed sole credit for).

Omar is the reason for all of our issues today. He started cutting costs over a decade ago, stopped investing in R and D, and bought into the lies of EBITDA and of course thought buying Covidien was a good idea…..

Omar took an American icon and destroyed it.

 

[anonymous]

Omar is the reason for all of our issues today. He started cutting costs over a decade ago, stopped investing in R and D, and bought into the lies of EBITDA and of course thought buying Covidien was a good idea…..

Omar took an American icon and destroyed it.

Neutron Omar took an American icon & turned it into the vomit found on a Dublin sidewalk on St Patrick's Day.

 

[anonymous]

The only people weeping are those who have left this absolute shit hole of a company and those are tears of joy. Never in my life have I experienced a company where so many people could collectively accomplish absolutely nothing.

 

[Board of U]

You nailed it.
This company has to be doing something with all the cash it reports.
It’s not reflected in the stock price.
Just not sure why the stock price is flat over a 1 year period and down over a 5 and 10 year period if the CEO and board of directors are doing their job.
It’s amazing how such a large company can be asleep at the wheel and be complacent with stagnation.

 

[anonymous]

The only people weeping are those who have left this absolute shit hole of a company and those are tears of joy. Never in my life have I experienced a company where so many people could collectively accomplish absolutely nothing.

truer words have never been spoken. such a shame too. some good people left, but most have headed out the door. nothing ever ever ever gets done. and competition runs circles around every division while geoff posts on linkedinn about ukraine.

 

[anonymous]

The only people weeping are those who have left this absolute shit hole of a company and those are tears of joy. Never in my life have I experienced a company where so many people could collectively accomplish absolutely nothing.

when I saw i was included in the VERP last year i felt like i won the lottery. Pulled my retirement ahead 3 years- years i wont have to spend under the chaos of Brett, Geoff, Karen and the rest of the keystone kops.

 

[Board of You]

Medtronic stock has provided a compound annual growth rate (CAGR) of 0.85% over the past five years, which yields an ending balance for a $10,000 investment of $10,430. The S&P 500's CAGR of nearly 15% in the past five years would have turned an initial investment of $10,000 into $19,880. To say that the stock has been an underperformer would be an understatement.

https://www.fool.com/investing/2024/02/25/if-you-invested-10000-in-medtronic-in-2019-this-is/

It’s hard to understand where the revenue the company is generating with pacemakers and defibrillators is going. It’s not reflected in the stock price!
The company is completely asleep at the wheel! Look at what $10k would have been with BSX or Abbott stock over the same time period.

I feel so ripped off as an investor.

 

[anonymous]

Where did 42.9B go? This was known all along...this was never a growth move just a GE 101 tax inversion for the price of 42.9B. Didn't calculate the payback of US 35% repatriation tax would be compared to Ireland but I'm sure I'll be dead before it's met.

Medtronic completed the merger with Covidien on January 27, 2015. The MDT closing stock price on that fateful day was $75.26. Today on November 22, 2023, the MDT stock closing price was $78.37, for a gain of 4% from the day of the completion of the Covidien merger.

Medtronic paid $42.9 billion to get Covidien. Medtronic's market cap at the time of the Coviden merger was $100 billion. Today it is $104 billion. Where did the $42.9 billion go? That money was evaporated thanks to a decade of mismanagement by GE alums Neutron Omar & Neutron Geoff.

Until Medtronic management acknowledges that the Coviden merger was a mistake & not worth it, Medtronic won't go anywhere. Since the architects of the Covidien merger are still running the show, they will never admit it.

 

[Board]

Wow! Look at that stock move! Like a dead duck!

Anyone above a sales rep in the organization should be let go.

Endless layers of middle management that don’t produce revenue.

Management is not leading. All the revenue must be being sunk and wasted into robotics.

 

[Need tissues? I’m weeping]

From $79 then to $81 now.

Down with the entire board!

Fire every manager, director, executive that is not revenue generating and customer facing.

The sales reps generate the revenue and then all the barnacles suck up the cash.

This Harvard Business Review cases you could do on the past 5 years of absym management could last an entire MBA course. Any “leader” at MDT should be ashamed. The field is fine, despite being messed with all the time.