MDT - Will Medtronic Q3 earnings top Street view despite COVID impact?

Medtronic (NYSE:MDT) is scheduled to announce Q3 earnings results on Tuesday, Feb. 22, before market open. The consensus EPS estimate is $1.37 (+6.2% Y/Y) and the consensus revenue estimate is $7.91B (+1.4% Y/Y).  Over the last 2 years, MDT has beaten EPS estimates 88% of the time and revenue estimates 63% of the time. Over the last 3 months, EPS estimates have seen 20 downward revisions. Revenue estimates have seen 17 downward revisions. MDT, which agreed to acquire Intersect ENT (NASDAQ:XENT) for $1.1B, is reportedly finalizing plans on potential divestitures to resolve antitrust concerns. MDT also expanded its cardiac ablation portfolio with the acquisition of Affera for $925M. MDT stock fell after the firm reported Q2 revenue miss. MDT also cut its FY revenue forecast due to potential raw material supply shortages. In a post-earnings call, CEO Geoffrey Martha said FY sales would likely come in below MDT's $50M-100M target.  CFO Karen Parkhill said for Q3, MDT estimates organic revenue growth of 3-4% Y/Y, while EPS

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Will Medtronic Q3 earnings top Street view despite COVID impact?