Investing.com -- Medtronic plc (NYSE: MDT) reported first-quarter fiscal 2027 results that exceeded analyst expectations, with shares rising 5% as the medical device maker raised its full-year outlook on strength across its portfolio.

The company posted adjusted EPS of $1.45, beating the consensus estimate of $1.39 by $0.06. Revenue reached $9.8 billion, up 13.7% YoY and ahead of the $9.55 billion analyst estimate.

Medtronic raised its fiscal 2027 organic revenue growth guidance to 7.25% to 7.75%, up from prior guidance of 6.75% to 7.25%. The company also increased its full-year adjusted EPS guidance to $5.94 to $6.00, with a midpoint of $5.97 slightly above the consensus of $5.95.

The company's strong quarterly performance was broad-based, with the Cardiovascular Portfolio growing 18.9% organically, led by 29.1% growth in Electrophysiology Therapies. Neuroscience grew 9.3% organically, while Medical Surgical increased 10.2%.

"We are off to a strong start in fiscal 2027. What gives us confidence is not simply the strength of the quarter, but importantly, the breadth of performance across our businesses and the increasing contributions from newer growth platforms," said Geoff Martha, Medtronic chairman and chief executive officer.

The company noted that fiscal 2027 includes an extra week in the first quarter, which benefited organic growth by approximately $570 million. Adjusted operating margin expanded 10 basis points to 23.7% compared to the prior year period.

Medtronic completed acquisitions of Scientia Vascular and SPR Therapeutics during the quarter. The Diabetes business, which the company plans to separate, grew revenue 14.9% organically to $843 million.