Medtronic shares are trading lower after the company reported the FDA CSDP voted recommending against the approval of Medtronic's blood pressure treatment device, saying associated do not outweigh the benefits.
Portfolio Pulse from Benzinga Newsdesk
Medtronic's shares are trading lower following the FDA CSDP's recommendation against the approval of the company's blood pressure treatment device, citing that the associated risks do not outweigh the benefits.
August 24, 2023 | 6:30 pm
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NEGATIVE IMPACT
Medtronic's stock price is expected to be negatively impacted in the short term due to the FDA CSDP's recommendation against the approval of its blood pressure treatment device.
The FDA CSDP's recommendation against the approval of Medtronic's device is a significant setback for the company. This negative news is likely to shake investor confidence, leading to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100