Healthcare stocks are helping markets power forward on Tuesday.
For its fiscal second-quarter, Medtronic posted adjusted earnings of $1.07 per share on $7.05 billion in sales. Earnings blew out the consensus for 99 cents. Revenue came in line with Medtronic's pre-announcement but still beat estimates for $6.96 billion.
Additionally, Medtronic reiterated its guidance for constant-currency sales growth of 4% to 5% in fiscal 2018 and adjusted profit per share growth of 9% to 10%.
Shares of the company were climbing over 5% during afternoon trading on Tuesday.
The strong results and guidance have caused shares of many of its counterparts including Johnson & Johnson (JNJ) - Get Report , Baxter International (BAX) - Get Report , and Edwards Lifesciences (EW) - Get Report to climb higher.
Shares of other related companies including Pfizer (PFE) - Get Report , UnitedHealth Group (UNH) - Get Report , and Bristol-Myers Squibb (BMY) - Get Report were also moving higher during afternoon trading Tuesday.
More of What's Trending on TheStreet:
- How Royal Caribbean's CEO Uses Cruise Bookings to Predict the Economy
- What Investors Can Learn From 'Blade Runner's' Vision of the Future
- Here's What the Stock Market Has Historically Done During Thanksgiving Week
- Black Friday and Holiday Shopping Survival Guide -- TheStreet Special Report