:max_bytes(150000):strip_icc()/GettyImages-2162536047-fdf918179ac241a899345ea26e7dd0a6.jpg "Demand for Medtronic’s Medical Devices Lifts Profit and Sales")
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Key Takeaways
- Medtronic beat first-quarter earnings and revenue estimates on strong sales of its medical devices.
- Sales were higher at the company’s cardiovascular, neuroscience, and diabetes divisions.
- Medtronic raised the low end of its full-year outlook for its organic revenue growth and adjusted EPS.
Medtronic (MDT) shares advanced in intraday trading Tuesday as the medical technology firm posted better-than-expected results and raised its guidance on strong demand for its medical devices.
The Ireland-based company reported fiscal 2025 first-quarter adjusted earnings per share (EPS) of $1.23, with revenue rising 2.8% year-over-year to $7.92 billion. Both were above consensus analysts’ forecasts compiled by Visible Alpha.
Sales at its cardiovascular unit increased 5.5% to $3.01 billion, they were up 4.4% to $2.32 billion at its neuroscience division, and they jumped 11.8% to $647 million at its diabetes segment. The medical surgical unit sales declined 0.4% to $2.00 billion.
CEO Says ‘Underlying Markets Are Healthy’
Chief Executive Officer (CEO) Geoff Martha said the company’s “underlying markets are healthy, we’re driving operating rigor, and new product innovation is fueling diversified growth across key health tech market.”
Medtronic changed its full-year outlook for organic revenue growth to a range of 4.5% to 5% from the previous 4% to 5%. It sees adjusted EPS of $5.42 to $5.50 from the earlier $5.40 to $5.50.
Shares of Medtronic rose 3% to $87.39 as of 11:20 a.m. ET Tuesday and have added about 6% year-to-date.