Earnings Preview: Medtronic August 2007 (MDT)

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Medtronic (NYSE:MDT) posts earnings after the close on Tuesday, August 21, and First Call estimates are $0.62 EPS on $3.17 Billion in revenues.  The following quarter is looking like estimates are $0.65 EPS and $3.3 Billion in revenues.

Believe it or not, the company didn’t get the down market memo.  Shares are at $52.88, and its 52-week trading range is $44.10 to $54.86.  Sinc before summer this has been nestled into a trading band of $51.00 to $54.00.  Options are hard to use with today being expiration date, but it appears options traders are bracing for a move of $1.75 or so either way.  Analysts have mostly maintained their positive ratings and the average price target is almost $59.00 for the stock.

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.