Medtronic Strength Could Continue Through Earnings Next Week
(Thomson Reuters ONE) -
Shares of Medtronic (NYSE:MDT) are expected to be strong today and through the
company's fiscal 1Q 2013 earnings report next week, with a big upgrade from
Argus Research from Sell to Buy this morning. Argus raised its price target to
$48, significantly above the Street average of $43, and others could follow suit
as this beleaguered stock may be back on track to becoming a growth story again.
Importantly, yesterday's announcement that competitor St. Jude Medical
(NYSE:STJ) is getting further scrutiny from the FDA on its implantable
defibrillator product line due to potential malfunctions, could be very good
news for MDT. When the company announces earnings next week, a report of market
share gains in its ICD (Implantable Cardioverter-Defibrillator) business could
send the shares higher. Notably, MDT has easy comparisons in this segment given
the company's weak ICD performance last year. Dr. Robert Hauser of the
Minneapolis Heart Institute has been a key watchdog for St. Jude's ICD issues,
and is expected to keep pressure on the FDA and St. Jude to correct the
problems. In other words, the problem is likely to get worse for STJ, and could
remain an important growth opportunity for MDT in the ICD market as doctors will
increase their use of products perceived to be safer.
Click here to read this rest of this report.
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Datum: 17.08.2012 - 16:08 Uhr
Sprache: Deutsch
News-ID 175590
Anzahl Zeichen: 2513
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