Shares of medical device maker Medtronic MDT.N rise 4.8% to $95 premarket.
Co raises lower end of fiscal 2027 adjusted profit forecast to $5.94 from $5.90 and lifts organic revenue growth target to 7.25%-7.75% from 6.75%-7.25%.
Co says demand for heart devices used in complex cardiovascular procedures drove the forecast increase.
Co reports Q1 adjusted profit of $1.45/share vs analysts' average estimate of $1.39/share - LSEG data.
Co's quarterly revenue of $9.76 billion beats analysts' average expectation of $9.55 billion - LSEG data.
As of last close, stock down about 6% year to date.
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