Medtronic’s Irish profits rise 119% | Wall Street Beat Wall Street Beat

One of the largest employers on the Emerald Isle, Medtronic (NYSE:MDT), saw its Irish subsidiary’s pre-tax profits surge 119% during its last fiscal year, on sales growth of 43%.

The Fridley, Minn.-based medical device company reported profits of €328.9 million (about $430 million) on sales of €1.18 billion (~$1.54 billion) during the 12 months ended April 27, 2012, the Irish Times reported.

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Medtronic Vascular Galway also boosted its head count last year by 3.1%, from 1,826 to 1,882 employees, according to the newspaper.

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Cardiovascular Systems said it’s drawn down some $11.5 million since April 2010 from the loan agreement with Partners.
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 Analysts’ ups and downs

  • Abbott (NYSE:ABT): Barclays Capital reaffirms "equal weight" rating, $35 price target; Stifel Nicolaus initiates with "buy" rating, $40 price target; TheStreet Ratings reiterates "hold" rating, "C" ratings score.
  • Amgen (NSDQ:AMGN): Bank of America reiterates "neutral" rating, raises price target from $97 to $99.
  • Becton Dickinson & Co. (NYSE:BDX): Argus raises price target from $87 to $95, "buy" rating; Zacks reaffirms "neutral" rating, $93 price target.
  • Bruker Corp. (NSDQ:BRKR): Bank of America/Merrill Lynch upgrades to "neutral" from "underperform" rating, raises price target from $15 to $19.50.; UBS raises price target to $21, boosts estimates, "buy" rating.
  • C.R. Bard (NYSE:BCR): Goldman Sachs downgrades from "neutral" to Sell, lowers price target to $95 from $99.
  • (NSDQ:DXCM): Leerink Swann maintains “market perform” rating, raises price target to $14.50 from $14; Oppenheimer reiterates "perform" rating, raises price target from $14 to $15.
  • Endo Health (NSDQ:ENDP): Piper Jaffray downgrades from "neutral" to "underweight" rating, lowers price target from $28 to $22.
  • Insulet (NSDQ:PODD): Canaccord Genuity reiterates "buy" rating, lowers price target from $29 to $28; J.P. Morgan reiterates "overweight" rating, $26 price target; Jefferies reiterates "buy" rating, raises price target from $43 to $46.
  • Intuitive Surgical (NSDQ:ISRG): Goldman Sachs upgrades from "neutral" to "buy" rating, raises price target from $591 to $715; SunTrust restates "buy" rating, $649 price target.
  • McKesson (NYSE:MCK): JP Morgan reiterates "overweight" rating, raises price target from $111 to $112.
  • Medtronic (NYSE:MDT): BMO Capital Markets raises price target from $50 to $52, maintains "outperform" rating; JPMorgan Chase ups price target from $44 to $50, "neutral" rating; Leerink Swann reiterates "market perform" rating, $48 price target; Mizuho raises price target from $49 to $52; "buy" rating; RBC Capital raises price target from $41 to $47, maintains "sector perform" rating.
  • NuVasive Inc. (NSDQ:NUVA): JP Morgan maintains "neutral" rating, raises price target from $17 to $20.
  • NxStage Medical (NSDQ:NXTM): Zacks cuts from "outperform" to "neutral" rating, $14 price target.
  • Orthofix (NSDQ:OFIX): Piper Jaffray reiterates "neutral" rating, lowers price target from $47 to $43.
  • Shire (NSDQ:SHPGY): Deutsche Bank reiterates "buy" rating, lowers price target from $110 to $108; Jefferies reiterates "buy" rating, lowers price target from $117 to $112.
  • Sirona Dental Systems (NSDQ:SIRO): Robert Baird downgrades from "outperform" to "neutral" rating, $76 price target.
  • Smith & Nephew (FTSE:SN, NYSE:SNN): Galvan Research maintains “buy” rating
  • Solta Medical (NSDQ:SLTM): Ascendiant Capital lowers price target from $3.75 to $3.50, maintains “strong buy” rating; Leerink Swann maintains "outperform" rating, lowers price target to $4.10 from $4.70.
  • St. Jude Medical (NYSE:STJ): Cowen & Co. downgrades to "underperform" rating.
  • Teleflex (NYSE:TFX): Barclays Capital raises price target from $76 to $82; “equal weight” rating; Jefferies reiterates "hold" rating, raises price target from $64 to $82; Leerink Swann maintains "market perform" rating, increases price target from $72 to ~$85; Morgan Stanley reiterates "overweight" rating, $95 price target.
  • Tornier (NSDQ:TRNX): BMO Capital Markets reiterates “outperform” rating, lowers price target from $23 to $22.
  • Volcano (NSDQ:VOLC):" BMO Capital Markets reiterates “market perform” rating, lowers price target from $28 to $26; Goldman Sachs downgrades from "buy" to "neutral" rating, cuts from "conviction list." $25 price target; Jefferies reiterates "buy" rating, lowers price target from $32 to $28; Leerink Swann maintains "outperform" rating, lowers price target to $30 from $32; William Blair downgrades to "market perform" rating.
  • Wright Medical (NSDQ:WMGI): Leerink Swann upgrades to “outperform” from “market perform” rating, raises price target to $26-$27 from $22.

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