Medtronic, Inc. (MDT) is expected to renegotiate the terms of its $43 billion acquisition deal with Covidien plc (COV) in response to the new tax rules announced by the US Treasury Department on September 22.
Jefferies initiates coverage on Medtronic, Inc. (NYSE: MDT) with a Buy rating and a price target of $74.00. Analyst Mike Matson commented, "We believe that due to its business mix MDT has potential revenue growth equivalent to the average potential ...
Medtronic, Inc. (MDT) may halt plans to shift its US tax domicile to Ireland through a $43 billion acquisition deal with Covidien plc (COV) due to new tax rules issued by the US Treasury Department Monday.
Medtronic (NYSE: MDT ) posted solid first-quarter earnings last month -- revenue climbed 5% year over year to $4.27 billion, while non-generally accepted accounting principles diluted earnings per share rose 6% to $0.93.
Last month, Medtronic's (NYSE: MDT ) first-quarter earnings topped consensus estimates on the top and bottom lines, as revenue rose 5% year over year to $4.27 billion and non-GAAP diluted earnings climbed 6% to $0.93 per share.