By Amruta Khandekar
    Feb 18 (Reuters) - Steady sales of pacemakers and heart
stents may have likely helped Medtronic Plc offset weak
demand for its other medical devices, in a quarter that saw an
Omicron-led surge in COVID-19 cases and staffing crisis at most
U.S. hospitals.
    Overwhelmed by soaring infections and shortages of nurses
and other healthcare workers, hospitals had to put off
non-critical surgical procedures, denting demand for knee and
spine implants made by companies such as Medtronic and Zimmer
Biomet. 
    "Medtronic has areas you know, for example, in cardiac
surgery ... those procedures are not seeing delays, but in areas
where we can defer like spine, spinal cord stimulation, that's
where they're going to see more of an impact," said BTIG analyst
Ryan Zimmerman.
    "So it's less severe for Medtronic, but it's certainly
generally going to lower their fiscal third-quarter 2022
numbers." 
    
    
    
    Click here for an interactive graphic: https://tmsnrt.rs/3sSVnLw
    
THE CONTEXT    
    ** During its second quarter ended Oct. 29, the hit to sales
of some of Medtronic's products such as its spinal devices,
which rely on elective procedures, was offset by the strength in
its business that sells critical implants including pacemakers
and other heart devices.
    ** Smaller rivals Zimmer Biomet and Edwards Lifesciences
 have said the pressure on elective procedures has
continued early into the year.
    
    
    Click here for an interactive graphic: https://tmsnrt.rs/3LL3HFO
    
    
THE FUNDAMENTALS    
    ** Medtronic, which reports results on Feb. 22, is expected
to post third-quarter revenue of $7.88 billion, according to the
mean estimate from 12 analysts, based on Refinitiv data
    ** Medtronic reported second-quarter revenue of $7.85
billion
    
WALL STREET SENTIMENT
    ** The current average rating on Medtronic shares is "buy,"
with six analysts rating it "strong buy," 15 "buy" and nine
"hold"
    ** Wall Street's median 12-month price target is $128
    ** The company's shares have fallen about 1.69% so far this
year    
    
 QUARTER ENDING  EPS          ACTUAL EPS  BEAT, MET,
                 ESTIMATE     ($)         MISSED
                 ($)                      
 Oct. 29 2021    $1.29        $1.32       BEAT
 July. 30 2021   $1.32        $1.41       BEAT
 April. 30 2021  $1.42        $1.50       BEAT
 Jan. 29 2021    $1.15        $1.29       BEAT
 Oct. 30 2020    $0.80        $1.02       BEAT
 July 31. 2020   $0.18        $0.62       BEAT
 
    
 (Reporting by Amruta Khandekar and Bhanvi Satija in Bengaluru;
Editing by Anil D'Silva)