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Medtronic?s Earnings

posted 526 weeks ago on CrossingWallStreet.com

Shares are Medtronic (MDT) are much higher today. Actually, the stock is really gaining back much of what it lost over the past month. MDT got pounded one month ago with the company said that it would halt distribution of certain heart defibrillator wires. The good news is that the sales impact is less than what the company, and Wall Street, expected. Medtronic said that the Sprint Fidelis heart wire hurt second-quarter earnings by nine cents to 10 cents per share. For the quarter, Medtronic earned 58 cents a share which was a penny less than last year. Sales rose 1.5% to $3.12 billion. The AP reports: "This was a tough quarter," President and CEO Bill Hawkins said. "We feel we have made solid progress over the past five weeks" since the recall was announced, "b

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