Medtronic Stock: Medtronic Earnings Top; Medical Tech Giant’s Sales In Line

Medtronic stock rose early Tuesday after the company reported adjusted earnings of $1.29 per share on $7.775 billion in sales for its fiscal third quarter.

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On average, analysts polled by FactSet expected Medtronic (MDT) to earn $1.15 per share on $7.78 billion in sales.

In the year-earlier period, Medtronic earnings were $1.44 per share on $7.72 billion in sales.

The medical technology company did not offer guidance. Analysts called for full-year Medtronic earnings per share of $4.59 and $28.91 billion in sales.

In premarket trading on the stock market today, Medtronic stock dipped 0.8% to 114.80. Medtronic stock broke out of a flat base with a buy point at 116.31 on Dec. 18, according to MarketSmith.com. Since then, shares have floated into and out of the 5% chase zone.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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