Leading medical device manufacturer Medtronic reported its Q3 fiscal 2016 earnings on March 1st. (Fiscal years end with April.) The company posted revenue growth of 6% driven by incremental revenues from Covidien acquisition and a strong growth across each of Medtronic’s business divisions. Further, Medtronic saw growth coming in from the market expansion due to new product launches. Although Medtronic’s non-GAAP EPS stood at $1.06 in Q3, foreign currency headwinds continued to offset Medtronic’s growth across its businesses, affecting the company’s revenues by a significant degree in Q3. Nevertheless, it was a strong quarter for Medtronic and we expect the momentum to continue going ahead.

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