Medtronic beats fourth-quarter estimates on strength in medical devices

Health tech firm Medtronic (MDT.N) beat Wall Street estimates for quarterly profit and revenue on Thursday, as a pickup in surgical volumes at hospitals lifted demand for its medical devices.

Investor expectations around the financial performance of medical devices makers have grown lately, owing to a resurgence in demand as people, especially older adults, opted for medical procedures deferred during the COVID-19 pandemic.