Shares of MiniMed Group climbed after the company reported higher sales in its fiscal first quarter, boosted by continued international growth and accelerating U.S. growth.

The stock rose 8.1%, to $21.91, on Tuesday. The company, which makes medical technology for diabetes patients, was spun off from Medtronic earlier this year.

MiniMed before the bell said it broke even in its three months ended July 31, compared with a loss of $19 million, or 8 cents a share, a year earlier.

Sales jumped 17% to $843 million, coming in ahead of the $826.8 million that analysts polled by FactSet expected. On an organic basis, sales were up 16%.

International sales totaled $603 million, up 18% from last year, while U.S. sales stood at $240 million, marking a 13% increase from a year ago.

Chief Executive Que Dallara called the quarter an excellent start to the fiscal year. "As our ecosystem continues to come together, we are well positioned to accelerate growth, strengthen our leadership in automated insulin delivery, and create long-term shareholder value," she added.

Looking ahead, MiniMed said it now expects organic revenue growth of about 10.5% for the year, up slightly from a prior forecast of roughly 10% growth.

The report came as Medtronic separately on Tuesday raised its outlook for the year and announced two separate investments totaling about $780 million--one supporting a heart-technology company, and the other a surgical-robotics company.