Medical-devices company 's (NYSE: MDT) stock was in good health on Tuesday. Following the company's release of its latest set of quarterly figures, investors traded it up by nearly 5%. That was far more than good enough to top the S 500 index's performance -- the bellwether index sank by 0.2% on the day.

For its second quarter of fiscal 2024, Medtronic managed to grow its revenue by more than 5% year over year to $8 billion. Profitability went in the opposite direction, but the decline wasn't severe. Non-GAAP (adjusted) net income dipped by 3% to just under $1.67 billion, or $1.25 per share.

Nevertheless, both headline figures beat analyst projections. On average, prognosticators tracking the medical-device company's stock were anticipating $7.93 billion on the top line and $1.18 per share for adjusted net income.

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Source Fool.com