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MDT

Medtronic

$77.54

-0.38 (-0.49%)

10:03
10/13/17
10/13
10:03
10/13/17
10:03

Medtronic, Mercy announce data sharing partnership

Medtronic, and Mercy, the fifth largest Catholic health care system in the U.S., together will establish a new data sharing and analysis network that helps gather clinical evidence for medical device innovation and patient access. This coordinated data network aligns with the Food and Drug Administration's vision to establish a National Evaluation System for health Technology.

MDT Medtronic
$77.54

-0.38 (-0.49%)

10/09/17
STFL
10/09/17
NO CHANGE
Target $83
STFL
Hold
Medtronic Puerto Rico impact likely greater than most anticipated, says Stifel
Stifel analyst Rick Wise noted that Medtronic announced that it estimates both revenue and non-GAAP earnings were unfavorably impacted by "up to" $250M due to Hurricane Maria's impact, which he believes is likely greater than most anticipated. While he suspects the broader Medical Technology group could face some selling pressure after Medtronic's update, he also notes that the company has four Puerto Rico facilities, which is more than most peers, and the company likely did not have as much inventory on hand as peers due to fiscal calendar timing differences. Wise keeps a Hold rating on Medtronic and lowered his price target on the shares to $83 from $91.
10/09/17
10/09/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Humana (HUM) downgraded to Neutral from Overweight at JPMorgan with analyst Gary Taylor saying insider sales and the August board appointment render it unlikely that acquisition discussions are yet occurring. 2. Viacom (VIAB) downgraded to Sell from Neutral at Citi with analyst Jason Bazinet saying as media and cable companies jockey "for self-preservation," Charter Communications (CHTR) will likely drop, or significantly curtail, distribution of Viacom's content. 3. PTC Therapeutics (PTCT) downgraded to Underweight from Neutral at JPMorgan with analyst Anupam Rama saying the company's valuation remains at near pre-FDA Advisory Committee meetings levels, despite multiple "mixed / inconclusive / negative" updates recently. 4. Medtronic (MDT) downgraded to Market Perform from Outperform at Wells Fargo with analyst Larry Biegelsen saying a "lull" in major product cycles will drive below average organic sales growth over at least the next few quarters. 5. Symantec (SYMC) was downgraded to Underperform from Market Perform at Cowen and to Hold from Buy at Standpoint Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/17
BMOC
10/10/17
NO CHANGE
Target $89
BMOC
Outperform
BMO sees $250M impact on Medtronic from hurricane manufacturing disruption
BMO Capital analyst Joanne Wuensch lowered her price target for Medtronic to $89 from $92, modeling a $250M impact on manufacturing in Puerto Rico resulting from Hurricane Maria. Wuensch notes that most of the impact will occur in Q2 of FY18, also lowering her EPS target for the year to $4.63 from $4.78. The analyst kept her Outperform rating on the stock.
10/10/17
NEED
10/10/17
NO CHANGE
Target $94
NEED
Buy
Medtronic shares remain attractive despite hurricane impact, says Needham
Needham analyst Mike Matson lowered his price target on Medtronic to $94 from $95 to account for about $250M estimated negative impact from Puerto Rico manufacturing disruption due to Hurricane Maria. However, the analyst views the impact as temporary, maintaining his Buy rating given the large discount in stock price that Matson sees relative to peers. He also notes that reports of the company's "product cycle demise have been greatly exaggerated" and remains confident that Medtronic can sustain a mid-single digit revenue growth rate.

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IBM

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