FDAnews Device Daily Bulletin

MEDTRONIC'S OUTLOOK REMAINS SOLID

Nov. 21, 2005
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RBC Capital Markets maintained an "outperform" rating on Medtronic after the medical device maker reported in-line results for the second quarter. The Minneapolis-based company posted a profit of 54 cents per share on sales of $2.765 billion. "By product category, the results were mixed, with some products outperforming, while others came in slightly below expectations," wrote analyst Jennifer Hsui, in a note to investors. "Overall, however, we think the positives outweighed the negatives, and the quarter again demonstrated the benefit of a diverse product-portfolio."
Forbes