Medtronic Inc on Tuesday reported a 19 percent rise in quarterly profit on higher sales of its implantable devices to treat heart disease, diabetes and other chronic disorders.

Net earnings in the fiscal third-quarter ended January 29 were $831 million, or 75 cents a share, compared with $698 million, or 62 cents a share, a year ago.

Excluding special items, Medtronic earned 77 cents a share.

Analysts on average expected 76 cents a share, according to Thomson Reuters I/B/E/S.

Third-quarter revenue rose 10 percent to $3.85 billion, compared with analysts' average forecast of $3.87 billion.

Medtronic raised the low end of its fiscal 2010 per-share earnings forecast and expects profit to be in a range of $3.20 to $3.22, up from its previous outlook of $3.17 to $3.22.

Its shares were down 1 cent to $43.65 in light premarket trading.

(Reporting by Susan Kelly; Editing by Derek Caney)