Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> announced better-than-expected Q1FY24 result. Revenue of $7.7B increased 6% on organic basis, ahead of guidance of 4.5%. Each of four segments delivered 6% organic revenue growth.</li>
<li>Adjusted EPS increased 6% YoY to $1.20, ahead of guidance of $1.10–1.12. Outperformance was driven by better-than-expected operational performance and lesser-than-expected unfavorable impact from foreign currency translation.</li>
<li>The company increased FY24 organic revenue growth guidance to 4.5% versus the prior range of 4.0% to 4.5% and adjusted EPS guidance to $5.08–5.16, 7 cent increase at midpoint.</li>
</ul>



Medtronic Plc (MDT US) announced better-than-expected Q1FY24 result. Revenue of $7.7B increased 6% on organic basis, ahead of guidance of 4.5%. Each of four segments delivered 6% organic revenue growth.
Adjusted EPS increased 6% YoY to $1.20, ahead of guidance of $1.10–1.12. Outperformance was driven by better-than-expected operational performance and lesser-than-expected unfavorable impact from foreign currency translation.
The company increased FY24 organic revenue growth guidance to 4.5% versus the prior range of 4.0% to 4.5% and adjusted EPS guidance to $5.08–5.16, 7 cent increase at midpoint.


Medtronic (MDT US): Q1 Result Exceeds Forecast; FY24 Guidance Raised on Higher Surgery Volumes

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Abbott Laboratories managed to exceed the revenue expectations as well as the earnings expectations of analysts.</li><li>Organic sales showed steady growth, led by solid performances in Medical Devices, Established Pharmaceuticals, and Nutrition.</li><li>Abbott's various segments, such as Nutrition, Established Pharmaceuticals, Diagnostics, and Medical Devices, reported solid growth and significant achievements in product innovations.</li></ul>

Abbott Laboratories managed to exceed the revenue expectations as well as the earnings expectations of analysts.Organic sales showed steady growth, led by solid performances in Medical Devices, Established Pharmaceuticals, and Nutrition.Abbott's various segments, such as Nutrition, Established Pharmaceuticals, Diagnostics, and Medical Devices, reported solid growth and significant achievements in product innovations.

Abbott Laboratories: Can The Acquisition Of Cardiovascular Systems Be A Game Changer? – Key Drivers

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<a href="https://www.smartkarma.com/entities/insulet-corp" target="_blank" data-smartkarma-citation="entities:5252:1" rel="noopener">Insulet Corp (PODD US)</a>, with expanding user-base and product innovation, is well-positioned to face competition in the US patch pump market. Large and underpenetrated target market offers immense growth potential.  </li>
<li>Insulet raised Omnipod 2023 revenue growth guidance to 21–25% from 17–22% previously. The U.S. Omnipod revenue growth guidance has been raised to 27–31% from 21–26% earlier.</li>
<li>For 2023, Insulet expects gross profit margin of 65–66%, compared with 61.7% in 2022. Insulet has reaffirmed high-single-digit operating profit margin for 2023 compared with 2.9% in 2022.</li>
</ul>



Insulet Corp (PODD US), with expanding user-base and product innovation, is well-positioned to face competition in the US patch pump market. Large and underpenetrated target market offers immense growth potential.  
Insulet raised Omnipod 2023 revenue growth guidance to 21–25% from 17–22% previously. The U.S. Omnipod revenue growth guidance has been raised to 27–31% from 21–26% earlier.
For 2023, Insulet expects gross profit margin of 65–66%, compared with 61.7% in 2022. Insulet has reaffirmed high-single-digit operating profit margin for 2023 compared with 2.9% in 2022.


Insulet Corp (PODD US): Slow Recovery Is Expected on Easing Competition Fear; 2023 Guidance Raised

<ul>
<li>
<a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> reported 6% YoY revenue growth to $8.5B, ahead of expectations, driven by procedure volume recovery, supply improvements, and innovative product introductions.</li>
<li>Medtronic intends to acquire Korea-based <a href="https://www.smartkarma.com/entities/eoflow-co-ltd" target="_blank" data-smartkarma-citation="entities:36100:1" rel="noopener">Eoflow (294090 KS)</a>, manufacturer of a tubeless, wearable, full-disposable insulin delivery device, for $738M. The transaction is expected to close in 2H23.  </li>
<li>Medtronic guided for FY24 adjusted EPS of $5.00–5.10, including ~6% unfavorable impact from Fx. The company forecasts 4.0–4.5% organic revenue growth in FY24, accelerating from 2.1% in FY23.</li>
</ul>



Medtronic Plc (MDT US) reported 6% YoY revenue growth to $8.5B, ahead of expectations, driven by procedure volume recovery, supply improvements, and innovative product introductions.
Medtronic intends to acquire Korea-based Eoflow (294090 KS), manufacturer of a tubeless, wearable, full-disposable insulin delivery device, for $738M. The transaction is expected to close in 2H23.  
Medtronic guided for FY24 adjusted EPS of $5.00–5.10, including ~6% unfavorable impact from Fx. The company forecasts 4.0–4.5% organic revenue growth in FY24, accelerating from 2.1% in FY23.


Medtronic Plc (MDT US): Strong Q4 Result; New Acquisition Announced; Fx Headwind to Impact FY24

<ul><li>Abbott Laboratories started the year with impressive results and managed an all-around beat.</li><li>Organic revenue growth increased by 10%, with double-digit growth in Medical Devices, Established Pharmaceuticals, and Nutrition.</li><li>The cardiovascular device businesses witnessed an impressive sequential improvement driven by strong double-digit growth in Heart Failure and Structural Heart.</li></ul>

Abbott Laboratories started the year with impressive results and managed an all-around beat.Organic revenue growth increased by 10%, with double-digit growth in Medical Devices, Established Pharmaceuticals, and Nutrition.The cardiovascular device businesses witnessed an impressive sequential improvement driven by strong double-digit growth in Heart Failure and Structural Heart.

Abbott Laboratories: How The Cardiovascular Device Business Is Changing The Game – Key Drivers

United States

Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors.

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Abbott Laboratories (ABT US)

Medtronic (MDT US): Q1 Result Exceeds Forecast; FY24 Guidance Raised on Higher Surgery Volumes

Medtronic announced better-than-expected Q1FY24 results with 6% organic revenue and EPS growth. The company has increased guidance for organic...

Tina Banerjee

Abbott Laboratories: Can The Acquisition Of Cardiovascular Systems Be A Game Changer? – Key Drivers

Abbott Laboratories managed to exceed the revenue expectations as well as the earnings expectations of analysts. Organic sales showed steady...

Baptista Research

Insulet Corp (PODD US): Slow Recovery Is Expected on Easing Competition Fear; 2023 Guidance Raised

With 100K+ US customers for Omnipod 5, Insulet is ready to face additional competition in patch pump market. 2023 is going to be eighth consecutive...

Tina Banerjee

Medtronic Plc (MDT US): Strong Q4 Result; New Acquisition Announced; Fx Headwind to Impact FY24

Medtronic reported strong Q4 result, with revenue and EPS beating expectations. The company is acquiring EOFlow for $738M. FY24 EPS is guided at...

Tina Banerjee

Abbott Laboratories: How The Cardiovascular Device Business Is Changing The Game – Key Drivers

Abbott Laboratories started the year with impressive results and managed an all-around beat. Organic revenue growth increased by 10%, with...

Baptista Research

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Medtronic (MDT US): Q1 Result Exceeds Forecast; FY24 Guidance Raised on Higher Surgery Volumes

​Medtronic announced better-than-expected Q1FY24 results with 6% organic revenue and EPS growth. The company has increased guidance for organic...

Tina Banerjee

Abbott Laboratories: Can The Acquisition Of Cardiovascular Systems Be A Game Changer? – Key Drivers

Abbott Laboratories managed to exceed the revenue expectations as well as the earnings expectations of analysts. Organic sales showed steady...

Baptista Research

Insulet Corp (PODD US): Slow Recovery Is Expected on Easing Competition Fear; 2023 Guidance Raised

With 100K+ US customers for Omnipod 5, Insulet is ready to face additional competition in patch pump market. 2023 is going to be eighth consecutive...

Tina Banerjee

Medtronic Plc (MDT US): Strong Q4 Result; New Acquisition Announced; Fx Headwind to Impact FY24

Medtronic reported strong Q4 result, with revenue and EPS beating expectations. The company is acquiring EOFlow for $738M. FY24 EPS is guided at...

Tina Banerjee

Abbott Laboratories: How The Cardiovascular Device Business Is Changing The Game – Key Drivers

Abbott Laboratories started the year with impressive results and managed an all-around beat. Organic revenue growth increased by 10%, with...

Baptista Research

Medtronic announced better-than-expected Q1FY24 results with 6% organic revenue and EPS growth. The company has increased guidance for organic...