Medtronic credits heart-surgery-device growth as profit tops analyst estimates

Dow Jones

18 Feb

MW Medtronic credits heart-surgery-device growth as profit tops analyst estimates

By Steve Gelsi

Medtronic's adjusted third-quarter profit tops analyst estimates

Medtronic PLC said its revenue grew nearly 3% on strength in its cutting-edge heart-surgery devices as the medical-technology company's adjusted profit topped analyst estimates.

Medtronic $(MDT)$ said its devices for a heart treatment called pulsed-field ablation helped drive growth as it reported adjusted third-quarter earnings of $1.39 a share, ahead of the FactSet consensus estimate of $1.36 a share.

Revenue rose 2.5% to $8.29 billion, slightly below the analyst expectation of $8.33 billion.

The company said its pulsed-field-ablation product revenue increased by more than 20%.

"We are starting to see the results from our long term investments in groundbreaking innovation, such as pulsed field ablation," Chief Executive Geoff Martha said in a prepared statement.

Medtronic still expects to report adjusted earnings of $5.44 a share to $5.50 a share for 2025, compared with the analyst estimate of $5.45 a share.

Medtronic's stock fell 2.4% in premarket trading on Tuesday.

The stock has risen 16.2% so far in 2025, while the S&P 500 SPX has risen 4%.

-Steve Gelsi

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 18, 2025 07:19 ET (12:19 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 18, 2025 07:19 ET (12:19 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BQXX3F31.USD","symbol_name":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2512511661","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2512511661","pubTimestamp":1739881140,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Medtronic PLC said its revenue grew nearly 3% on strength in its cutting-edge heart-surgery devices as the medical-technology company's adjusted profit topped analyst estimates.Medtronic  said its devices for a heart treatment called pulsed-field ablation helped drive growth as it reported adjusted third-quarter earnings of $1.39 a share, ahead of the FactSet consensus estimate of $1.36 a share.Revenue rose 2.5% to $8.29 billion, slightly below the analyst expectation of $8.33 billion.The company said its pulsed-field-ablation product revenue increased by more than 20%.\"We are starting to see the results from our long term investments in groundbreaking innovation, such as pulsed field ablation,\" Chief Executive Geoff Martha said in a prepared statement.Medtronic still expects to report adjusted earnings of $5.44 a share to $5.50 a share for 2025, compared with the analyst estimate of $5.45 a share.Medtronic's stock fell 2.4% in premarket trading on Tuesday.The stock has risen 16.2% so ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1291159041.SGD":"CPR Invest - 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MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 18, 2025 07:19 ET (12:19 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}