JPMorgan analyst Robbie Marcus noted that Medtronic CFO Karen Parkhill discussed expectations for the back half of FY19 and high level views on FY20 at the firm's healthcare conference. For FY19, the company is now expecting organic growth closer to the middle of its 5.0-5.5% range, driven by softness in CVG, said Marcus. The CFO said headwinds from higher tax rates and foreign exchange could push reported EPS growth below the company's long-range target of 8%, but expressed confidence in its ability to still hit its 4% guidance floor, adding that softer reported EPS growth in FY20 should set up FY21 for above trend reported EPS growth, according to Marcus. He maintains an Overweight rating on Medtronic shares, which are down nearly 5% to $83.92 in afternoon trading.