(Reuters) – Medtronic slightly lifted the lower end of its annual profit forecast on Tuesday, banking on sustained demand for its medical devices and growth from its new launches.
Medical device makers have been benefiting from elevated demand for non-urgent surgeries over the past few quarters, as more patients opt for procedures deferred during the pandemic.
The company raised the lower end of its 2025 adjusted profit forecast to $5.42 per share from $5.40 earlier, keeping the upper end at $5.50.
Analysts on average were expecting profit of $5.44 for 2025, according to LSEG data.
Medtronic posted adjusted profit of $1.23 per share for the first quarter, beating estimates of $1.20.
(Reporting by Sriparna Roy and Puyaan Singh in Bengaluru; Editing by Sriraj Kalluvila and Devika Syamnath)
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