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Shares of Medtronic (MDT) are getting slammed today. The company said that sales for the first quarter came in below expectations. Analysts were looking for sales of $2.98 billion while the company said that sales were $2.9 billion.

Medtronic also said that earnings will range from 53 cents to 55 cents a share. The Street was looking for 57 cents a share.
In May, the company raised 2007 estimates to $2.40 to $2.48 a share.

Earnings are due on August 22.

Posted by edelfenbein at August 3, 2006 11:35 AM