Morgan Stanley Comments on Medtronic at the Quarter

Morgan Stanley has published a research report on Medtronic MDT. In the report, Morgan Stanley wrote, "Organic revenue growth was ~1.5%, improved vs. the -1% in F4Q11, albeit on a comp that was 500 bps easier. Sales in ICDs and Spine were below our estimates by $25- 30mn with the difference made up in Cardiovascular and Physio." Morgan Stanley rated Medtronic an Equal-weight with no price target given. Medtronic closed Monday at $31.18.