Why Medtronic Stock Slumped Today

A 27x earnings valuation and single-digit growth rate means Medtronic stock is probably going down.Medtronic (MDT -3.43%) 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 t ...