Medtronic hits 5-year high

Investor's Business Daily

The medical equipment giant's shares popped early Tue. after it beat analysts' fiscal Q4 expectations. The maker of pacemakers and other devices said sales rose 4% to $4.5 bil, besting estimates of $4.4 bil. Profit excluding special charges climbed 11% to $1.10 per share, topping by 7 cents a share. Medtronic (MDT) guided for current-year EPS growth of 6%-8%, ahead of analysts consensus of 4%. Two of its biggest product lines showed recovery in Q4 after years of declines. Shares rose4.9% to 52.35.

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