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) .

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) , Baxter International (BAX) , and Edwards Lifesciences (EW) to climb higher.

Shares of other related companies including Pfizer (PFE) , UnitedHealth Group (UNH) , and Bristol-Myers Squibb (BMY) were also moving higher during afternoon trading Tuesday.

More of What's Trending on TheStreet:


More from Stocks

Facebook Jumps on $9 Billion Buyback Plan, Bullish Note From Deutsche Bank

Facebook Jumps on $9 Billion Buyback Plan, Bullish Note From Deutsche Bank

Nutrisystem Soars on Deal to Be Acquired by Tivity Health

Nutrisystem Soars on Deal to Be Acquired by Tivity Health

Apple Stock Overcomes Trade Troubles to Post Gain on Monday

Apple Stock Overcomes Trade Troubles to Post Gain on Monday

Economist Perspective: Can U.S. Dollar Keep Its Momentum in 2019?

Economist Perspective: Can U.S. Dollar Keep Its Momentum in 2019?

Stocks End Day in the Green as Dow, S&P Overcome Slow Starts

Stocks End Day in the Green as Dow, S&P Overcome Slow Starts