Medtronic (MDT.US) Shares Drop Over 7% After Q3 Revenue Misses Expectations

Intelligent Finance APP learned on Tuesday that the share price of medical technology company Medtronic (MDT.US) fell. As of press time, the stock dropped more than 7%, trading at $86.37, marking the largest decline since November 2022. In terms of news, Medtronic announced its third-quarter performance for the fiscal year 2025 ending January 24, with revenue increasing by 2.5% year-over-year to $8.29 billion, which was below analysts' expectations of $8.33 billion; adjusted earnings per share were $1.39, compared to analysts' expectations of $1.36. Growth in the cardiovascular product portfolio and neuroscience division offset the decline in the medical surgical business. Medtronic reiterated that full-year revenue would increase by 4.75% to 5% year-over-year, with earnings per share between $5.44 and $5.5, while analysts expected $5.45.