Piper Jaffray Overweight On Medtronic

Piper Jaffray is out with a research report on Medtronic, Inc. MDT and it has an Overweight rating and $44 price target on shares. In a note to clients, Piper Jaffray writes, "We see favorable near-term risk reward for the FQ1 report. MDT shares have traded off more severely than a majority of the large cap medtech universe on concerns over the impact of recent negative Infuse® journal articles and weak Q2 CRM results from STJ and BSX. We are estimating FQ1 revenue of $4,004M (+1.4% CC) and EPS of $0.79 vs. consensus estimates of $3,979M and $0.79 (several analysts recently lowered expectations into the quarter)." Shares of MDT gained 34 cents yesterday to close at $32.62.