Medtronic raises profit forecast on medical device demand, new launches By Reuters

(Reuters) – Medtronic (NYSE: ) slightly raised the bottom line of its annual profit forecast, banking on sustained demand for its medical devices and growth from its new launches.

Medical device makers have benefited from increased demand for non-urgent surgeries in recent quarters as more patients opt for postponed procedures during the pandemic.

The company raised the lower end of its 2025 adjusted earnings forecast to $5.42 per share from $5.40 previously, keeping the upper end at $5.50.

Analysts on average were expecting earnings of $5.44 for 2025, according to LSEG data.

Medtronic reported adjusted earnings of $1.23 per share for the first quarter, beating estimates of $1.20.