Medtronic Plc (MDT.N) predicted annual earnings below Wall Street projections on Thursday, expecting a higher currency to continue lowering overseas sales.
Medtronic expects a delayed earnings improvement this year due to high costs despite reorganization.
Refinitiv IBES statistics predict a profit of $5 to $5.10 per share for fiscal year 2024, below analysts’ estimates of $5.20.
However, Medtronic reported better-than-expected fourth-quarter earnings due to a comeback in non-urgent surgical procedures delayed during the pandemic and robust demand for its heart and diabetes products.
The Dublin-based firm earned $1.57 per share, beating analysts average expectation of $1.56.
Medtronic will pay $738 million for Korean insulin patch company EOFlow (294090. KQ).