Medtronic Plc Stock Intrinsic Value – MEDTRONIC PLC Reports Q1 FY2024 Earnings Results for July 31 2023
August 29, 2023
🌥️Earnings Overview
On August 22 2023, MEDTRONIC PLC ($NYSE:MDT) reported its first quarter FY2024 earnings results which covered the period ending July 31 2023. The company’s total revenue was USD 7702.0 million, a 4.5% increase from the same quarter of the previous year. Unfortunately, net income saw a 14.9% decline compared to the same period of the prior year, coming in at USD 791.0 million.
Share Price
On Tuesday, MEDTRONIC PLC reported their earnings results for the first quarter of FY2024. The stock opened at $82.6 and closed at $83.7, representing a 2.6% increase from the previous closing price of $81.6. This was a positive result for investors as the stock had been steadily declining in the past few days, and the quarterly results provided a sign of recovery.
The strong cash flow performance indicates that MEDTRONIC PLC is in good financial health and is well positioned for future growth and success. Overall, MEDTRONIC PLC reported strong earnings for the first quarter of FY2024, providing a sign of recovery for investors and signaling positive growth for the company in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Medtronic Plc. More…
| Total Revenues | Net Income | Net Margin |
| 31.56k | 3.62k | 12.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Medtronic Plc. More…
| Operations | Investing | Financing |
| 5.83k | -2.45k | -4.51k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Medtronic Plc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 90.78k | 39.41k | 38.47 |
Key Ratios Snapshot
Some of the financial key ratios for Medtronic Plc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.2% | 12.3% | 19.4% |
| FCF Margin | ROE | ROA |
| 14.1% | 7.5% | 4.2% |
Analysis – Medtronic Plc Stock Intrinsic Value
At GoodWhale, we have completed an analysis of MEDTRONIC PLC‘s fundamentals. Our proprietary Valuation Line has calculated the intrinsic value of MEDTRONIC PLC share to be around $107.7. Currently, MEDTRONIC PLC stock is trading at $83.7, which is undervalued by 22.3%. This implies that there is potential value to be added by investing in MEDTRONIC PLC stock. More…
Peers
With more than 85,000 employees worldwide, Medtronic offers a broad portfolio of products and services that are available in more than 155 countries. Medtronic’s competitors include Boston Scientific Corp, Apollo Endosurgery Inc, and Ion Beam Applications SA.
– Boston Scientific Corp ($NYSE:BSX)
Boston Scientific Corp is a leading medical device company with a market cap of 58.64B as of 2022. The company has a strong focus on innovation and has a return on equity of 5.95%. Boston Scientific Corp is a global leader in the development and manufacturing of medical devices for a range of conditions, including cardiovascular disease, cancer, and neurological disorders. The company’s products are used by physicians and patients around the world.
– Apollo Endosurgery Inc ($NASDAQ:APEN)
Apollo Endosurgery Inc is a medical device company that focuses on developing less invasive treatments for obesity, metabolic, and gastrointestinal disorders. The company has a market cap of 238.83M as of 2022 and a Return on Equity of -32.07%. Apollo’s products include the ORBERA Intragastric Balloon System, the LAP-BAND Adjustable Gastric Banding System, and the OverStitch Endoscopic Suturing System.
– Ion Beam Applications SA ($LTS:0GZK)
Ion Beam Applications (IBA) is a world leader in proton therapy, a type of cancer treatment that uses high-energy proton beams to kill cancer cells. IBA’s proton therapy solutions are used in over 80 hospitals worldwide, making it the largest provider of proton therapy systems in the world. IBA’s market cap is $413.64M as of 2022, and its ROE is 6.68%. The company’s proton therapy solutions are used to treat a wide range of cancers, including brain, breast, lung, and prostate cancer.
Summary
Medtronic PLC reported strong revenue growth in the first quarter of FY2024, increasing 4.5% compared to the same quarter of the previous year.
However, net income fell 14.9% year over year. Despite the decline in earnings, investors may still find Medtronic PLC an attractive option as it operates in a large and growing market. Furthermore, its strong performance during the quarter indicates that it has a competitive edge and a strong brand presence. Investors should also keep an eye on the company’s financials and strategic plans as they may provide valuable insight into how the company plans to continue outperforming the market in the long term.
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