Medtronic Surpasses Earnings Expectations, Elliott Buys Shares – yet the Stock Still Falls

Despite the medical technology manufacturer Medtronic being able to increase its profits in recent years, its stock has performed poorly compared to the market. Now, the company appears ready for strategic changes. After the activist investor Elliott Investment Management acquired a stake in Medtronic, becoming one of the company’s largest shareholders, Medtronic appointed two new members to its board of directors. Additionally, a new committee has been formed to address potential acquisitions and divestitures. Changes in the Board and Strategic...