Medtronic's Turnaround Gains Momentum with Strong Q2 Performance
Originally Published 2 years ago — by Investor's Business Daily
Medtronic's turnaround is showing signs of progress as the company beat Wall Street's expectations in its fiscal second-quarter report. The strong performance was driven by sales growth in its diabetes devices, particularly the MiniMed 780G, as well as its cardiovascular, neuroscience, and medical surgical portfolios. Medtronic also raised its outlook for full-year organic sales growth and adjusted profit. Analysts believe that the company's turnaround is becoming more tangible, although some investors may want to see more solid results before fully acknowledging the improvement.