Healthcare stocks are helping markets power forward on Tuesday.

The Health Care SPDR ETF (XLV) was rising nearly 1% in afternoon trading, boosted in part, by solid results from medical equipment company Medtronic (MDT) - Get Report .

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.

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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.

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