Medtronic Inc posted a quarterly profit that was in line with analyst expectations, helped by sales of new heart devices, and said its $42.9 billion acquisition of hospital products maker Covidien Plc remains on track to close early next year.Second-quarter revenue rose 4 percent to $4.37 billion, propelled by newly launched products, including an implantable diagnostic monitor for the heart called Reveal and its CoreValve replacement heart valve that can be implanted in a less-invasive procedure than traditional open-heart surgery.The largest stand-alone medical device maker on Tuesday said net earnings for the quarter ended Oct. 24 fell to $828 million, or 83 cents a share, from $902 million, or 89 cents a share, the year before.Excluding costs related to the Covidien acquisition and a charitable donation, Medtronic earned 96 cents a share, in line with the average analyst forecast.
Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Shares of COV traded higher by 0.67% or $0.63/share to $94.61. In the past year, the shares have traded as low as $65.49 and as high as $95.29. On average, 4796750 shares of COV exchange hands on a given day and today's volume is recorded at 2739763.
Medtronic, Inc. (Medtronic) is a medical technology company. Shares of MDT traded higher by 0.35% or $0.24/share to $69.19. In the past year, the shares have traded as low as $53.33 and as high as $69.64. On average, 8624070 shares of MDT exchange hands on a given day and today's volume is recorded at 5325601.
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