Medtronic Stock Rises on Strong Q4 Earnings of $1.46 EPS, $8.6 Billion Revenue, Dividend Increase

Medtronic's stock rose following the announcement of better-than-expected earnings and a dividend increase. The health tech firm reported strong financial results for the fourth quarter and full fiscal year 2024, driven by a post-pandemic increase in surgical volumes at hospitals, which boosted demand for its medical devices. Medtronic's Q4 adjusted EPS was $1.46, slightly above the IBES estimate of $1.45, while Q4 revenue reached $8.6 billion, surpassing the IBES estimate of $8.437 billion. The company reported a Q4 GAAP diluted EPS of $0.49. Revenue increased 0.5% as reported and 5.4% organically. The company also provided a positive outlook for FY25, expecting adjusted EPS between $5.4 and $5.5 and organic growth of 4-5%. Medtronic's market cap stands at $113.87 billion.