Analysts ask: Can Medtronic leaders execute?

Medtronic CEO Geoff Martha has had ambitious goals for the world’s largest medtech company. [Image courtesy of Medtronic]Medtronic (NYSE: MDT) — the world’s largest medical device company — will have to settle some doubts as it seeks to navigate through challenging economic times.

That seemed to be the big message in a report out today from Needham & Co. analysts. They previewed what they expect from Medtronic’s Q1 results release on Aug. 23.

“Current guidance requires a steep ramp in revenue and EPS growth through FY23. While comps do get progressively easier, we lack confidence in Medtronic’s ability to execute in a challenging macro environment with multiple factors outside its control,” said Mike Matson, David Saxon and Joseph Conway at Needham & Co.

Medtronic is facing challenges

Geoff Martha has had ambitious goals since he took over Medtronic’s corner office in 2020. That included engaging in a major …

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ResMed finds a solution to semiconductor shortage, as well as some humor in it

ResMed (NYSE:RMD) can’t go back in time to solve its semiconductor shortage, but it’s found a solution that might be the next best thing — for now.

President and COO Rob Douglas (serving as interim president of Sleep and Respiratory Care at ResMed after Jim Hollingshead left to be CEO of Insulet) offered an update on the San Diego-based company’s supply chain issues as it tries to capture more of the market while Philips works through its recall.

ResMed President and COO Rob Douglas [Photo courtesy of ResMed]

“We’ve been managing a higher than normal rate of decommits coupled with a competitor recall that sucked all the inventory out of our systems and out of all of our customers’ systems as well,” Douglas said Wednesday at the William Blair Growth Stock Conference. “And so there is a huge shortage of devices. … We joke that the head of our supply cha…
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