Dublin headquartered Medtronic reported a quarterly net profit slightly above analysts' estimates helped by higher sales in its cardiac and vascular unit which sell pacemakers, catheters and coronary stents among other devices.

Sales in the cardiac and vascular unit rose 5.4 per cent to $2.74 billion, accounting for about 36 per cent of its total sales. The world’s largest standalone medical device maker said it sees full-year 2017 adjusted earnings of $4.60 to $4.70 per share, compared to analysts’ average estimate of $4.70, according to Thomson Reuters I/B/E/S. The company earned $1.10 billion, or 78 cents per share, in the fourth quarter ended April 29, compared with a loss of $1 million, a year earlier. On an adjusted basis,

Medtronic earned $1.27 per share beating the average analysts’ estimate of $1.26 per share. Sales rose to $7.57 billion from $7.30 billion. The company said a strong dollar reduced fourth quarter revenue by $179 million.

Reuters