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Medtronic stock falls after earnings miss and downbeat outlook, but dividend boosted

Shares of Medtronic PLC dropped 3.2% in premarket trading Thursday, after the medical technology company missed fiscal fourth-quarter profit and sales expectations and provided a downbeat earnings outlook, citing pressure from inflation, supply chain constraints and COVID-19 controls in China. Net income rose to $1.49 billion, or $1.10 a share, from $1.36 billion, or $1.00 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.52 missed the FactSet conse