Medtronic Inc. (MDT) is a medical technology, service and solutions company offering products to hospitals, physicians, clinicians, and patients in over 160 countries. The stock is currently trading around $76.44 at the upper end of its 52 week range of $58.32-$79.50. The stock has been outperforming the market this year rallying 6.16% year to date. MDT is scheduled to report earnings before the bell tomorrow, and the stock is higher on the session today ahead of the release by around $0.12 or 0.16% ahead of the closing.

Over the past 12 quarters MDT has rallied on earnings day 5 times with an average move of 2.58%. MDT appears bearish on a chart going into the release. Over the past 12 quarters MDT has rallied from earnings to the nearest options expiration 8 times with an average move of 2.33%. The cloud appears to be consistently changing its trend. Investors are mainly looking to see how the formation of a new groups within MDT targeting various illnesses being spread across Asia Pacific, the Americas, Europe, the Middle East, Africa, and China perform this quarter. Another point to watch for is how the strong USD will affect sales.

The options market is currently implying a move of around $2.00 or 2.62% in MDT by this Friday’s close giving us targets of $74.44 and $78.44.

Andrew Keene

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