Medtronic Lowers Earnings Guidance, Citing Slower Procedure and Supply Recovery

Medtronic Lowers Earnings Guidance, Citing Slower Procedure and Supply Recovery


Medtronic


stock was falling Tuesday after the medical device maker’s fiscal second-quarter sales fell short of expectations and management lowered its forecast of earnings for the year.

Medtronic


(ticker: MDT) reported adjusted earnings of $1.30 a share on revenue of $7.59 billion in its fiscal second quarter, compared with adjusted earnings of $1.32 a share from revenue of $7.85 billion last year. Analysts surveyed by FactSet were expecting adjusted earnings of $1.28 a share on revenue of $7.7 billion.

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Published for: Ipodifier