UPDATE 2-Medtronic's profit beats estimates on lower costs

jueves 25 de agosto de 2016 10:12 GYT

* Reiterates FY17 adj profit forecast of $4.60-$4.70/shr

* Q1 profit $1.03/shr vs est $1.01/shr

* Shares down 1.2 pct in early trading (Adds details, forecast, updates shares)

By Anya George Tharakan and Ankur Banerjee

Aug 25 (Reuters) - Medtronic Plc, the world's largest standalone medical device maker, reported a better-than-expected quarterly profit, helped by lower costs and a lighter tax burden.

The company's shares, however, fell about 1.2 percent in early trading on Thursday after it forecast current-quarter profit growth at the lower half of its 12-16 percent growth it expects for 2017 on a constant currency basis.

Medtronic has been beefing up its portfolio of devices for treating heart diseases and delving deeper into the market for less-invasive surgical products.

The company closed its $1.1 billion deal for HeartWare International Inc earlier this week, and has also bought a stake in Israeli robotics company Mazor Robotics Ltd .

The deals underscore Medtronic's push to broaden its offerings in the minimally invasive surgical products market, which it entered with its acquisition of Covidien Plc last year.   Continuación...