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Medtronic hits 52-week high ahead of Q1 earnings

Tue, 08/21/2012 - 4:00am
Mass Device

Medtronic shares hit a year-long high a day before the medical device company is slated to release its 1st-quarter earnings.

Medtronic

Investors sent shares of Medtronic (NYSE:MDT) to a year-long high yesterday, a day ahead of the medical device company's scheduled earnings release for its fiscal 1st quarter.

Shares in the world's largest pure-play med-tech firm hit $41.57 – a 52-week high – on their way to a $41.45 close on Wall Street yesterday afternoon, ending the trading day up 1.5%. Since August 22, 2011, MDT shares have gained 32.5%.

Medtronic in May posted a 28% profit surge during its fiscal 4th quarter profits, beating Wall Street's expectations by a penny on sales growth of 4.4%.

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