Medical device giant Medtronic (MDT) issued fiscal Q3 results and full-year guidance in line with Wall Street’s expectations Tuesday, but still faced some significant head winds in its business. Medtronic shares were down 2.5% in early trading in the stock market today, near 55.50. Medtronic stock touched a 13-year high of 60.93 on Jan. 8. For the three months ended Jan. 24, the company’s sales rose 3% over the year-earlier quarter to $4.16
The FDA approved Medtronic’s (MDT) CoreValve artificial heart valve Friday, well ahead of its April 1 deadline, sending shares of competitor Edwards Lifesciences (EW) tumbling on the stock market today. The CoreValve is a transcatheter aortic valve, approved to treat aortic stenosis in patients too frail for open-heart surgery. It’s similar to Edwards’ Sapien, which had the U.S. market to itself after it was approved in 2012, though the two share
Medical device maker Medtronic on Tuesday reported a solid fiscal Q2, but its profit margins faced head winds as the company dealt with macroeconomic and regulatory challenges. Shares fell a fraction. For the quarter ended Oct. 25, Medtronic (MDT) made 91 cents a share, up 3.4% from the year-earlier quarter and a penny above analyst consensus. Sales rose 2.4% to $4.2 billion, in line with consensus. The company reiterated its guidance for the