Why Medtronic Sank by 6% Today
Wednesday ended up being a pretty good day for many companies on the stock market -- but not for medical device mainstay Medtronic (NYSE: MDT). Its shares dived by 6% after it revealed that it had received a wagging-the-finger letter from a top regulator.
On Wednesday morning, Medtronic disclosed that it received a letter from the Food and Drug Administration (FDA) last week regarding its Northridge, California, facility. That plant is the headquarters of the company's diabetes business, and received an FDA inspection visit in July.
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Source Fool.com
