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Medtronic Misses Mid-Year Mark With 'Disappointing' 3% Growth

 
• By Reed Miller

The medtech giant says slow sales in its cardiovascular and diabetes businesses while it awaits important product approvals were a drag on its overall revenues during the second fiscal quarter of 2017.

Medtronic PLC missed its revenue growth targets for the second fiscal quarter of 2017 due to smaller-than-expected revenues from its Cardiac & Vascular Group and Diabetes Group as it awaits approvals and launches of important new products.

The company reported Nov. 22 that its fiscal second-quarter worldwide revenue was $7.345bn, an increase of 3% on a constant currency basis year-over-year.

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