Updates
** Shares of medical device maker Medtronic MDT.N down 2.1% at $84.55 premarket
** MDT says it plans to separate its diabetes business into a standalone company within 18 months
** The new company, led by the head of Medtronic's diabetes division, will have around 8,000 employees
** The separation was first reported by the Wall Street Journal
** Separately, co posts Q4 adj profit of $1.62 per share, beating analysts' estimates of $1.58 per share - data compiled by LSEG
** But Medtronic forecast its fiscal 2026 adj earnings per share in the range of $5.50 to $5.60, below Wall Street estimates of $5.83
** It expects a tariff hit of about $200 to $350 million in 2026 on its cost of goods sold, after mitigation efforts
** As of last close, stock up 8.12% YTD
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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