Medtronic (NYSE: MDT) stock slipped 2.8% through 10:15 a.m. ET this morning despite beating earnings forecasts in its fiscal Q4 2024 earnings report.

Heading into earnings, analysts had the medical devices company pegged for a $1.45 per-share profit, but Medtronic "beat" by a penny, reporting $1.46 instead. Similarly, Medtronic exceeded expectations for $8.4 billion in sales by reporting $8.6 billion.

And yet the shares are down today. Why?

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Source Fool.com