Medtronic, Inc., (MDT): Founded in 1949, headquartered in Minneapolis, Minnesota, Medtronic, Inc., develops, manufactures, and sells device-based medical therapies worldwide. The companies medical technologies help make it possible for millions of people to resume everyday activities, return to work, and live better life. The company is able to do this with the help of about 38,000 dedicated employees from around the world.
Market is expecting a profit of 74 cents a share for the quarter ended October 2009, a jump of 7 cents a share compare to its actual profit of 67 cents a share it posted in the same quarter a year ago. The company posted a profit of 71 cents a share in the quarter ended January 2009, 82 cents a share in the quarter ended April 2009, and 79 cents a share in the quarter ended ended July 2009.
Currently trading at around $39.62 just below its 52 week high of $40.22 with an average volume of about 6.6 million shares a trading day. MDT is in my BUY watch list for short term trading. Watch for earnings on Tuesday November 24, 2009 before market open.
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UPDATE: Medtronic 2nd quarter profit rises 59% on sales. The company posted earnings of $868 million or 78 cents a share for the quarter ended October 2009, market was expecting a profit of 74 cents a share. Shares jumped about 5.26% on Tuesday October 24, 2009 to $42.43.
