Medtronic surpasses expectations, diabetes and heart devices fuel growth.

Medtronic reported positive earnings data, maintaining its full-year guidance, with third-quarter EPS of $1.39, up 7% YoY, topping Wall Street's expectation of $1.36, on strong demand for diabetes and heart devices. Revenue was in line with expectations at $8.3 billion, slightly below. Medtronic is a medical technology company that provides device-based medical therapies for 70 different health conditions, including diabetes and Parkinson's disease. The company maintained its full-year EPS guidance of $5.44 to $5.50 and expects full-year revenue growth in the range of 4.75% to 5%. On a segment basis, its key cardiovascular segment saw sales growth of 3.7% to $3.04 billion. In particular, its cardiac ablation solutions (devices used to treat irregular heart rhythms, including catheters or energy sources) saw revenue growth of more than 20%. The company's neuroscience product portfolio saw sales growth of 4.4% to $2.46 billion in the quarter. Medtronic noted the widespread adoption of its AiBLE connected operating room (OR) products, which help surgeons plan spine and neurosurgical procedures. The company's diabetes treatment business saw revenue growth of 8.4% to $694 million, with the company citing continued adoption of its MiniMed automatic insulin delivery (AID) system. The company said its medical surgical portfolio saw revenue decline due to the impact of some one-time procurement patterns in the U.S., slightly above $2 billion. Wall Street has a consensus rating of "moderate buy" for Medtronic stock, with an average analyst target price of $96.38.