Medtronic (NYSE: MDT) reported earnings on Feb. 21. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Jan. 27 (Q3), Medtronic missed estimates on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share grew slightly.

Margins increased across the board.

Revenue details
Medtronic logged revenue of $3.92 billion. The 23 analysts polled by S&P Capital IQ predicted sales of $4.00 billion on the same basis. GAAP reported sales were 1.1% lower than the prior-year quarter's $3.96 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.84. The 25 earnings estimates compiled by S&P Capital IQ averaged $0.84 per share on the same basis. GAAP EPS of $0.88 for Q3 were 2.3% higher than the prior-year quarter's $0.86 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 76.2%, 110 basis points better than the prior-year quarter. Operating margin was 28.1%, 70 basis points better than the prior-year quarter. Net margin was 23.9%, 60 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $4.27 billion. On the bottom line, the average EPS estimate is $0.97.

Next year's average estimate for revenue is $16.45 billion. The average EPS estimate is $3.45.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,724 members out of 1,814 rating the stock outperform, and 90 members rating it underperform. Among 526 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 514 give Medtronic a green thumbs-up, and 12 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Medtronic is outperform, with an average price target of $41.09.

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