Medtronic reported higher-than-expected sales and earnings for the first quarter of fiscal 2026. Sales grew by 8% year over year, with almost 5% coming from organic growth. Earnings, however, only increased by 1%. CEO Geoff Martha anticipates revenue growth to accelerate in the second half, but full-year guidance predicts slower growth than the first quarter. Management raised adjusted earnings guidance to $5.60-$5.66 per share for the year, but the stock’s high valuation of 25 times earnings may be a concern for investors.

Read more at Yahoo Finance: Why Medtronic Stock Dropped Today