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MiniMed Shares Climb as Quarterly Sales Beat Expectations

MiniMed Group shares surged 8.1% to $21.91 on Tuesday after the medical technology firm reported a 17% jump in first-quarter sales. The company, which provides diabetes care solutions, outperformed analyst expectations by reaching $843 million in revenue, signaling strong momentum following its spin-off from Medtronic earlier this year.

MiniMed Shares Climb as Quarterly Sales Beat Expectations

The company reached a break-even point for the three months ending July 31, a significant improvement from the $19 million loss recorded during the same period last year. International markets served as the primary engine for this performance, contributing $603 million in sales, while U.S. operations saw a 13% increase to $240 million.

Chief Executive Que Dallara described the results as a strong opening for the fiscal year. Bolstered by this performance, management raised its full-year organic revenue growth outlook to approximately 10.5%, edging past the previous 10% forecast. The company intends to leverage its automated insulin delivery platforms to sustain this trajectory and deliver further shareholder value.

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