UPDATE: Jefferies Lowers PT on Medtronic from $43 to $37

Jefferies has published a research report on Medtronic MDT lowering the price target. In the report, Jefferies wrote, "With the majority of Medtronic's end markets challenged by volume, pricing and competitive issues and with the ongoing evolution of healthcare on a global basis pointing to the pressures perhaps intensifying, Medtronic's efforts to improve its performance by simply making people more accountable, getting more productivity out of R&D, and continuing its international expansion may not be the tonic investors were hoping for." Jefferies rated Medtronic a Hold with a price target lowered from $43.00 to $37.00. Medtronic closed Monday at $33.10.