Medtronic beats Q3 profit estimates on strong demand for ventilators

Medtronic Plc beat estimates for third-quarter profit on Tuesday, boosted by strong demand for its ventilators and robots used in surgeries.
 

The world's largest standalone medical device maker said it would not provide a forecast for 2021 due to uncertainties surrounding the Covid-19 pandemic.
 

As vaccination rollouts take place across the United States, sales of medical device makers are expected to bounce back to normal. Medtronic in November had said the vaccines would help the company reach pre-pandemic growth levels by the fourth quarter.
 

Medtronic's minimally invasive therapies business, which makes surgical instruments to treat hernias, kidney diseases and ventilators,