I wouldn't call MDT a "sell". However, in my opinion you can put the "layoff" blame on what's going on in Wash, DC and the polices of our president. He just doesn't understand business and continues to build-out more and more government. This, along with the administration's spending like there's no tomorrow and all the uncertainty has crippled business. The America people got just what they deserved. A wake-up call is just around the corner. The good news is that MDT's future is still bright.
I am considering MDT a sell for a couple reasons.1) dividend already paid for the first quarter 2013 2) unknown financial impact so the excise tax on medicall,devices which will either reduce income 3) Obamacare reduced payments on insurance reimbursements on all phases of medical care reducing Medtronic income. Until the effects of these issues and a report of forward looking financial growth due to the impact of Obamacare, I would not invest in any medical device company right now.