Is Medtronic Stock Underperforming the S&P 500?

Medtronic plc (MDT) is a top global healthcare firm. It develops new medical devices and treatments to improve the health of people with long-term illnesses. Based in Galway, Ireland, it works in heart care, diabetes, brain treatments, and more, helping millions with its helpful tech. The company has a market capitalization of $124.03 billion, which classifies it as a “large-cap” stock. 

Medtronic’s shares reached a 52-week high of $106.33 on Nov. 26, but are down 9.1% from that level. Earnings pressure stemming from margin contraction has led to a drop in the stock’s trajectory. Over the past three months, Medtronic’s stock has declined 8.3%. On the other hand, the broader S&P 500 Index ($SPX) has gained 2.7% over the same period.