Medtronic raised its full-year adjusted earnings outlook to $5.94 to $6 per share after posting higher fiscal first-quarter profit and sales. Revenue is projected to grow 7.25% to 7.75% organically. The medical-device maker reported net income of $1.47 billion, or $1.14 a share, up from $1.04 billion last year.

Cardiovascular sales jumped 20% to $3.93 billion, becoming the unit's largest contributor. Separately, Medtronic announced two major investments totaling about $780 million. The company will invest roughly $700 million in Cornerstone Robotics to distribute its Sentire surgery system internationally.

Additionally, Medtronic agreed to invest up to $80 million in Pi-Cardia for its Short Cut device, the first FDA-cleared leaflet modification technology for valve-in-valve procedures. The agreement includes an option to acquire Pi-Cardia for up to $210 million upon milestone achievement. These investments expand Medtronic's robotic-assisted surgery offerings and aim to address coronary obstruction risks in transcatheter aortic valve replacement procedures.