Medtronic (NYSE: MDT) shares were trading lower on Thursday, after DZ Bank downgraded the stock from Buy to Hold.
Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, and surgical tools.
The company markets its products to health care institutions and physicians in the United States and overseas. Foreign sales account for almost 50% of the company's total sales.
Medtronic shares were trading down 0.85% at $92.53 on Thursday. The stock has a 52-week high of $122.15 and a 52-week low of $72.13.