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Medtronic quarterly profit rises

Tue Feb 20, 2007 4:25pm EST

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CHICAGO, Feb 20 (Reuters) - Medtronic Inc. (MDT.N) reported higher quarterly profit on Tuesday, helped by demand for its spine, vascular and neurology products.

The Minneapolis-based medical device maker posted a net profit of $710 million, or 61 cents per share, for its fiscal third quarter, compared with a profit of $670 million, or 55 cents per share, a year ago.

Analysts on average expected 58 cents per share, according to Reuters Estimates.

Medtronic shares fell about 7 percent in 2006, lagging well behind the S&P 500 Index .SPX, which rose more than 13 percent last year.

((Reporting by Susan Kelly; Reuters Messaging: susan.kelly.reuters.com@reuters.net; 312-408-8787)) Keywords: MEDTRONIC RESULTS/

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