Medtronic raises annual profit forecast on lower tariff impact

(Reuters) -Medical-device maker Medtronic raised its fiscal 2026 profit forecast on Tuesday and said it expects a smaller-than-expected impact from the tariffs proposed by U.S. President Donald Trump.

The Galway, Ireland-based company expects annual adjusted profit between $5.60 and $5.66 per share, compared with its previous forecast range of $5.50 to $5.60 per share.

Investors have high expectations of medical-device makers, as they continue to benefit from healthy demand for non-urgent surgeries - especially among older Americans - over the last few quarters.

Medtronic trimmed its assumed tariff impact to be about $185 million for the year, versus a previous range of $200 million to $350 million.

(Reporting by Puyaan Singh and Kamal Choudhury in Bengaluru; Editing by Pooja Desai)