Medtronic Displays All-Business-Line Growth Despite Cost Woes
Zacks Investment Research | Nov 28, 2019 09:56PM ET
On Nov 28, we issued an updated research report on Medtronic plc (NYSE:MDT) ). Increased adoption of the company's globally accepted advanced therapies is encouraging. The stock has a Zacks Rank #2 (Buy).
Over the past three months, shares of Medtronic have outperformed its industry. The stock has grown 4.2% versus the industry's 2.3% dip.
Medtronic exited the second quarter of fiscal 2020 with better-than-expected numbers. All major business groups contributed to its solid top-line growth at CER, which highlighted sustainability across groups and regions in addition to successful achievement of synergy targets.
Within RTG, strong sales within spine and brain therapies more than offset sluggish growth in pain therapies. Neurosurgery business posted double-digit growth at the company’s all three offerings, namely Robotics, Navigation and Imaging.
Within Cardiac & Vascular Group (CVG), despite ongoing challenges, the company registered 1.3% growth at CER, in line with its expectation. On visible signs of overcoming the headwinds, we expect recovery any time soon. Meanwhile, multiple product lines within Pacing and TAVR showed strength in the reported quarter.
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