There are a number of factors that may weigh down Medtronic’s 2nd-quarter numbers, including trouble in transcatheter aortic valve implantations and a potentially damaging recall, warned analysts with Zacks Equity Research.
The device maker faced pressure from its German legal war with rival TAVI maker Edwards Lifesciences (NYSE:EW), getting temporarily bumped off the German market before returning to the shelves earlier this month. Medtronic further faced some recent bad press over a recall of certain surgical guidewires that got the FDA’s highest-risk label.
"Our proven model does not conclusively show that Medtronic is likely to beat earnings this quarter," Zacks analysts wrote, citing similarly disappointing figures for Medtronic’s 1st quarter.
Other market researchers were more optimistic, predicting that Medtronic will remain on track for sales growth projections for the year.
"Management reiterated its outlook for the full year and believes that 3%-4% growth is achievable," according to Trefis analysts. "We agree with this outlook, and believe that Medtronic should be able to achieve this target in the near future."
MDT shares closed last night at $58.31, a modest decrease of 0.4% on the day.
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