Medtronic Beats Estimates on Strong Heart Device Demand
Medtronic reported fourth quarter revenue and profit beating Wall Street estimates driven by steady demand for cardiac devices. The company also expanded its portfolio through targeted investments and acquisitions while forecasting fiscal 2027 profit.
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MEDTRONIC PLC reported fourth-quarter revenue of $9.81 billion and adjusted earnings of $1.55 per share on Wednesday morning, beating Wall Street expectations. The beat was driven by steady demand for heart devices used in complex cardiac procedures, sending shares up 5% in premarket trading. The medical device maker is focusing on targeted acquisitions to expand its cardiovascular portfolio.
