Investor Caution - Medtronic's Rocky Road Ahead For Hypertension Device
Portfolio Pulse from Vandana Singh
The FDA Circulatory System Devices Panel voted against the approval of Medtronic Plc's hypertension treatment device, citing that the risks do not outweigh the benefits. The panel raised concerns about the device's trial results and its widespread applicability. The analysts maintain a Hold rating for the stock. Medtronic's shares are down 2.95% at $81.20.
August 24, 2023 | 6:20 pm
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Medtronic's hypertension device failed to gain FDA approval, raising concerns about its efficacy. The stock is currently down 2.95%.
The FDA's decision not to approve Medtronic's hypertension device raises concerns about the device's efficacy and the company's ability to bring it to market. This negative news is likely to impact investor confidence and could lead to a short-term decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100