Irish-headquartered medical device giant, Medtronic beat Wall Street estimates for fourth-quarter revenue and adjusted ‌profit on Wednesday, buoyed by steady demand for its heart devices used in complex cardiac procedures, sending ​its shares up nearly 5 per cent in premarket trading.The company also said it has invested in two privately-held firms, California-based Beluga Medical and Shenzhen-based CardioACC, which develop heart-imaging catheter technologies, ​to expand its cardiac portfolio.The company recently announced it was setting up a new software team in Galway focusing on its implantable cardiac devices, its first in Europe.The medical device maker has been focusing on smaller, targeted acquisitions to strengthen ⁠its portfolio, while it works through the separation of its diabetes business.The ‌company ‌has ​struck several deals in recent months to strengthen its cardiovascular and surgical robotics offerings, including a roughly $650 million (€560 million) acquisition ⁠of SPR Therapeutics and deals ​for CathWorks, Scientia Vascular and Fortimedix.“Overall, ​we are encouraged by Medtronic’s growth initiatives,” led by its cardiac ablation and ‌electrophysiology business, said RBC Capital Markets ​analyst Shagun Singh, adding that the company’s renal denervation treatment for high blood pressure “remains ⁠underappreciated”.Medtronic’s revenue for the fourth ⁠quarter ended ​April 24th came in at $9.81 billion, compared with estimates of $9.63 billion, according to data compiled by LSEG.On an adjusted basis, it reported quarterly profit of $1.55 per share, narrowly beating analysts’ average estimate of $1.54 per share.The Dublin-based business forecast adjusted annual profit in the range of $5.90 to $6 per share for fiscal 2027, below the $6.06 per share analysts ‌had pencilled in, according ⁠to data compiled by LSEG.Medtronic’s outlook for 2027 accounts for its diabetes business, now a publicly traded company called MiniMed. The company said ‌it would revise its forecast if the diabetes business is separated before the end of ​the year.Medtronic said it now expects a tariff ​impact of $250 million in fiscal 2027, including $75 million in the first quarter. – Reuters