Medtronic
MDT
MDT stock has suffered a sharp decline of 30% from levels of $115 in early January 2021 to around $80 now, vs. an increase of about 20% for the S&P 500 over this roughly 3-year period. Notably, MDT stock has underperformed the broader market in each of the last three years. Returns for the stock were -12% in 2021, -25% in 2022, and 1% in 2023. In comparison, returns for the S&P 500 have been 27% in 2021, -19% in 2022, and 19% in 2023 – indicating that MDT underperformed the S&P in 2021, 2022, and 2023.
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