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.

Sign up to get our free newsletters delivered straight to your inbox

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

 Morningstar: Don’t by BSX bonds
Morningstar added Boston Scientific (NYSE:BSX) to its list of bonds to avoid, joining a roster of companies the investment firm believes could have problems repaying long-term debt.
Read more

 EndoGastric Solutions raises $10M
EndoGastric Solutions said it raised $10 million from 15 unnamed investors. The Redwood City, Calif.-based company is developing natural orifice products for gastrointestinal disease.
Read more

 St. Jude Medical boosts dividend

St. Jude Medical (NYSE:STJ)
said it raised its dividend by 9%, to 25¢ per share, for an annual dividend worth $1 per share (up from 92¢). The dividend is payable April 30 to shareholders of record as of March 29.
Read more

 Cardiovascular Systems converts $YYM in debt
Cardiovascular Systems (NSDQ:CSII) said it converted about $3.5 million worth of debt into equity issued to Partners for Growth III, and revealed a $YY million funding round.

The St. Paul, Minn.-based medical device company said it issued an aggregate of about 185,000 shares to Partners for Growth in return for a $3.5 million loan, according to a regulatory filing.

Cardiovascular Systems said it’s drawn down some $11.5 million since April 2010 from the loan agreement with Partners.
Read more

 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.
• Dexcom Inc. (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.