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Why Medtronic Fell by Almost 6% on Monday

·2 min read
Why Medtronic Fell by Almost 6% on Monday
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The company released a discouraging business update after market hours on Friday, and its stock took it on the chin the following trading day. In that update, Medtronic said that a clinical trial of its Symplicity Renal Denervation System to lower blood pressure in hypertension patients will continue for an unspecified length of time. In Medtronic's words, the monitoring board "has recommended that clinical trial enrollment continue as planned, until the full, predefined sample size is reached."