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Medtronic's Diabetes Spinoff Just Surged. What To Look For In Its Earnings.

Shares of both advanced on their lifted full-year guidance.

Medtronic (MDT) stock popped Tuesday as its diabetes spinoff Minimed (MMED) rallied, reversing premarket losses, after both lifted their full-year guidance. Medtronic posted organic sales growth of 13.7%, roughly 200 basis points above the midpoint of its guidance, Evercore ISI analyst Vijay Kumar said in a report. Importantly, cardiovascular and medical-surgical sales all topped forecasts, but neuroscience coming in line.…

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