According to Piper Jaffray, Medtronic MDT Overweight rating is maintained.
Piper Jaffray said that Medtronic reported Q4:F11 results with revenue of $4.295B (+2%) vs consensus of $4.290B. “EPS totaled $0.90 compared to expectations for $0.93. ICDs and spine were again weak, offset by steady performance across the rest of the portfolio. We maintain our Overweight as shares remain cheap, but understandably lack a catalyst in front of the arrival of a new CEO on June 13.”
Medtronic closed yesterday at $41.26.
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