NEW YORK (TheStreet) -- Medtronic (MDT) shares are up 0.3% to $63.65 in early market trading on Tuesday after the medical technology company reported first quarter net earnings of $871 million, or an adjusted 93 cents per diluted share, 1 cent better than expected.
Revenue for the quarter was $4.27 billion, ahead of analysts estimates of $4.25 billion.
The company reported its most robust quarterly sales growth in five years as U.S. sales rose 6% to $2.33 billion during the period.
TheStreet Ratings team rates MEDTRONIC INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MEDTRONIC INC (MDT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: MDT Ratings Report
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