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Stockreport

Heart, diabetes devices pump up Medtronic's quarterly profit [Reuters]

Medtronic Plc (MDT)  More Company Research Source: Reuters
Last medtronic plc earnings: 11/20 06:45 am Check Earnings Report
US:NYSE Investor Relations: investorrelations.medtronic.com
PDF Heart, diabetes devices pump up Medtronic's quarterly profit | Reuters Reuters Staff 2 Min Read (Reuters) - Medtronic Plc ( MDT.N ) reported a better-than-expected quarterly profit on Thursday on higher demand for its heart valves and diabetes devices such as insulin pumps. Sales in the cardiac and vascular unit, which sells defibrillators, pace-makers, heart valves and stents, jumped 10.1 percent to $3.14 billion in the fourth quarter, accounting for 38.5 percent of the company’s total sales. Rival Edwards Lifesciences Corp ( EW.N ) last month said its premium-priced transcatheter heart valves had lost market share in Europe to Medtronic. Medtronic’s coronary & structural heart unit, which houses the transcatheter valves, saw sales of $1.01 billion, an 18.7 percent increase. Sales in the company’s diabetes unit rose 26 percent to $645 million, helped by strong demand for its new sensor-augmented insulin pump systems. Net income attributable to the company jumped 25.5 percent to $ [Read more]

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