Goldman Sachs analyst Amit Hazan initiated coverage of Medtronic with a Sell rating and $118 price target. The analyst says that he expects the company's organic growth to be near the guided 4% rate for the next two years, but he also sees that growth being below the expectations currently priced into the stock. Hazan adds that while he still sees "important new growth opportunities" for Medtronic in robotics in both spine and surgical, he sees greater downside risk from market share loss in key areas such as TAVR, diabetes, Pain, LINQ, LVADs, Afib, and DCBs.