Collins Stewart Maintains Guidance on Medtronic

Collins Stewart has published a research report on Medtronic Inc MDT maintaining the previous evaluation. In the report, Collins Stewart wrote, "Total sales were $4.049 billion (+7% yr/yr, +2% x-FX) slightly ahead of the Street ($3,978 million) due to FX; adj EPS was $0.79 in line with consensus. CRDM sales came in at $1,253 million (+2% yr/yr, -3% x-FX), which was lower than expected. Spine sales of $825 million (flat yr/yr, -3% x-FX) were also below expectations." Collins Stewart rated Medtronic a Neutral with a price target of $37.00. Medtronic closed Monday at $31.18.