Medtronic also boosted revenue through a $50 billion acquisition of surgical equipment maker Covidien last year.
The Dublin, Ireland-based company reported a fourth quarter net income of $1.1 billion after reporting a $1 million loss in the same period last year.
Medtronic’s adjusted earnings of $1.27 per share and quarterly revenue of $7.57 billion exceeded Wall Street expectations. Analysts predicted earnings of $1.26 per share and a revenue of $7.48 billion for the company.
The company estimates 2017 adjusted earnings in the range of $4.60 and $4.70 per share. Analysts expected $4.70 per share.
More articles on supply chain:
Electrode medical devices market to reach $1.45B by 2019
Medical Device Innovation Consortium advocates for early feasibility studies in US
New gunshot wound device saves first life on battlefield
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
