Medtronic’s Q4 results: giant clocks in the medical device industry Strong sales of neurological devices, higher dividend – Medtronic (NYSE:MDT)

Medtronic limited liability company (NYSE:MDT) reported fourth-quarter 2024 sales of $8.59 billion, beating the consensus estimate of $8.44 billion.

As reported, revenues increased by 0.5% and organic revenues by 5.4%.

The company’s organic revenue performance reflects broad-based growth across the company, with mid-single-digit or higher organic revenue growth across all four segments.

The medical device maker reported adjusted EPS of $1.46, beating the consensus estimate of $1.45.

Related: Medtronic’s latest generation of transcatheter aortic valve replacement implant meets FDA requirements and gains stock.

Dividend: The company increased its quarterly dividend to $0.70 per share from $0.69.

“Our momentum is gaining momentum in the new financial year. We are launching new product cycles in some of the most attractive MedTech markets, which will be further enhanced by the use of artificial intelligence across our portfolio. We are very optimistic about what we can achieve in fiscal year 25 and beyond,” said Geoff Martha, president and CEO.

Cardiovascular segment revenues reached $3.13 billion, down 5.2% YoY on the report and up 4.0% organically. There was mid-single-digit organic growth in structural heart, aorta, coronary, and peripheral vasculature, and low single-digit organic growth in cardiac rhythm and heart failure.

Neuroscience revenue of $2.545 billion was reported to be up 5.6% and 6.5% organically, with high single-digit growth in cranial and spinal technologies, mid-single-digit growth in neuromodulation and low single-digit growth in specialty therapies , all on an organic basis.

Medical Surgical revenues of $2.19 billion increased 3.5% reported and 4.5% organically, with mid-single-digit organic growth in the Surgery & Endoscopy segment and low-single-digit organic growth in the Acute Care & Monitoring segment.

Diabetes-related revenues of $660 million were reported to be up 10.9% and organic revenues were up 11.1%.

Conductivity: Medtronic forecasts fiscal 2025 adjusted EPS of $5.40 to $5.50, compared to consensus estimates of $5.45 and $5.20 for fiscal 2024.

For fiscal year 2025, the company expects organic revenue growth of 4%-5%.

Read next: Medtronic’s cardiac catheter achieves safety and effectiveness goals for patients with irregular heartbeats.

Reduction: MDT shares were down 2.64% at $83.57 at last check on Thursday.

Photo: Tony Webster via Wikimedia Commons