Medtronic warned by FDA about manufacturing facility for insulin pumps

Shares of Medtronic /zigman2/quotes/206816578/composite MDT -2.53% gained 0.3% in premarket trading on Wednesday after the company said it received a warning letter from the Food and Drug Administration following an inspection at a factory that makes its MiniMed 600 series insulin infusion pump and a remote-controller device for MiniMe 508 and Paradigm pumps. The company said it will make corrections to quality system requirements. Medtronic's stock is down 4.6% for the year, while the broader S&P 500 /zigman2/quotes/210599714/realtime SPX -4.04% is up 25.4%.

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Medtronic PLC

US : U.S.: NYSE

$ 103.57

-2.69 -2.53%

Volume: 4.13M

May 18, 2022 4:00p

P/E Ratio

28.55

Dividend Yield

2.43%

Market Cap

$142.55 billion

Rev. per Employee

$353,167

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S&P 500 Index

US : S&P US

3,923.68

-165.17 -4.04%

Volume: 2.71B

May 18, 2022 4:56p