NEW YORK (TheStreet) -- Medtronic (MDT) - Get Report stock is up 0.21% to $77.45 in mid-morning trading on Monday ahead of the company's 2016 third quarter results, due before the market open on Tuesday.

Analysts are projecting the Dublin-based medical technology and services company to report earnings of $1.06 per share on revenue of $6.99 billion. 

Last year, Medtronic reported earnings of $1.01 on revenue of $4.31 billion during the third quarter. The company's $49.9 billion acquisition of Covidien wascompleted during the 2015 third quarter. 

The company has borrowed billions in order to pay for acquisitions, Real Money's Cody Willard wrote in an article in January.

"The stock isn't cheap at 12x next year's earnings, and it looks even more expensive when you account for all that debt that MedTronic carries," he wrote in the article. "I also worry that health-care regulators will squeeze the company's margins in coming years."

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Recommends

TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: MDT

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