Investment in Innovation Supports Medtronic's Wide Economic Moat
Medtronic posted strong fiscal fourth-quarter results that largely met our full-year top-line expectations and nearly hit our expense projections on the nose. We expect to leave our fair value unchanged once we roll our model and make slight near-term adjustments to our projections. While revenue growth in the cardiovascular group fell slightly short of our expectations, this was offset by stronger-than-expected growth from the minimally invasive and restorative therapies groups. We remain confi...
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