Medtronic Lowers Earnings Guidance. The Stock Is Falling.

Medtronic


stock was falling Tuesday after the medical device maker missed fiscal second-quarter sales expectations and lowered its earnings guidance 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 on 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.