(NYSE: MDT) posted first-quarter earnings (for the period ended on June 30) that exceeded the average of Wall Street estimates. The results were strong enough for the medical technologies giant to raise its full-year profit forecast.

Investors should welcome the improved outlook, which could signal the start of a bigger turnaround for the company. Medtronic stock rallied on the report but is still down more than 30% from its record high set in late 2021.

Here's why I believe now is a good time to add shares of Medtronic to your portfolio.

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Source Fool.com