Medtronic (NYSE:MDT) Q2 Beats Estimates, Shares Hit 52 week High

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Medtronic, Inc. (NYSE:MDT) soared 8.21% to $43.58 in the opening sessions after making a new 52-week high at $43.65 earlier. Its fiscal second-quarter profit rose to $868 million, or 78 cents a share, from $547 million, or 48 cents a share, in the year-ago period. Revenue rose 8%, to $3.8 billion. Adjusted earnings were 77 cents a share. Analysts surveyed by FactSet Research had expected earnings of 74 cents a share on revenue of $3.75 billion. The Minneapolis medical technology company also raised guidance for the fiscal year 2010 to a range of $3.17 to $3.22 a share.

Medtronic, Inc. (Medtronic) is a global player in medical technology. The Company operates in seven segments that manufacture and sell device-based medical therapies: Cardiac Rhythm Disease Management, Spinal, CardioVascular, Neuromodulation, Diabetes, Surgical Technologies and Physio-Control.

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