Medtronic Exceeds Fiscal Q3 Estimates and Raises Full-Year Outlook

The medical device company sees a surge in demand for its heart and diabetes devices, leading to a positive adjustment in its earnings forecast.

Medtronic's fiscal third-quarter earnings and revenue surpassed expectations, driven by strong sales in heart and diabetes devices.
The company raised its full-year earnings per share (EPS) forecast to a range of $5.19 to $5.21, up from the previous range of $5.13 to $5.19.
Medtronic announced its exit from the unprofitable ventilator business, consolidating its Patient Monitoring and Respiratory Interventions division into a new unit named Acute Care and Monitoring.
Shares of Medtronic rose following the announcement, reflecting investor confidence in the company's growth trajectory.
The company's operational adjustments include the elimination of the executive vice president and president of the medical surgical portfolio position, effective April 26.