CRM (cardiac rhythm management) sales drive Medtronic's strong performance

Medtronic's fourth-quarter sales were $27m better than estimates by analysts at Morgan Stanley. This was due largely to strong cardiac rhythm management sales, together with better-than-expected vascular sales, although these were still weak, the analysts said. Cardiac rhythm management sales were a record $2.94bn in the year and $832m in the quarter, up 13% and 18%, respectively. Traditional pacing sales were weak, but the company had strong sales of its InSync device for congestive heart failure, as well as better than expected sales of traditional ICD products, the analysts said. Medtronic's vascular unit sales were $206m in the quarter, down 16%, but up 10% sequentially, the company said.