Medtronic sets out financial goals

Medical device manufacturer Medtronic has outlined its financial goals for the next five years including targets for operating margins.

The company said it is aiming for revenue growth of between nine and 11 per cent by 2013 with earnings growth of 11 to 14 per cent within that time, Dow Jones Newswires reports.

Medtronic chief executive and president William A Hawkins said in terms of operating margins, the company was looking to boost these by 300 to 400 basis points by 2012.

In addition, it also intends to cut selling, administrative and general expenses by between 250 and 300 basis points by this time.

The company’s role as a medical technology firm includes product areas such as cardiac rhythm management and ENT surgery.

It aims to help professionals in the industry develop comprehensive solutions to combat disorders and conditions experienced by patients.