Medtronic slumps as annual outlook hurt by forex, slow recovery
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Medtronic (MDT) stock hit with 2 downgrades after disappointing results, guidance
November 23, 2022 8:17 AM ESTAt least two sell-side analysts cut their rating on Medtronic (NYSE: MDT) stock on Wednesday after the companys shares closed over 5% lower yesterday following disappointing earnings.
Medtronic cut its full-year profit guidance to reflect macro pressure and FX headwinds. The company also reported a drop in revenues of 3.3% year-over-year.
Slower than predicted procedure and supply recovery drove revenue below our expectations this quarter,... More
