MarketPR
A fiscal first-quarter sales beat sent MiniMed (MMED) to a record high Tuesday, and the company followed by raising its full-year guidance.
The quarter was MiniMed's first as an independent public company after the spinoff from Medtronic (MDT) closed in March, giving the tape its earliest read on how the diabetes device business performs outside the parent's structure.
MiniMed's products are insulin pumps and continuous glucose monitors, sold to patients managing diabetes.
Those product lines had lived inside Medtronic's reporting structure before the separation, which means the market came into MiniMed's debut quarter without any stand-alone earnings history to work from.
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