Standpoint Research Downgrades Medtronic, Inc. (MDT) to Hold; Reducing Exposure

Standpoint Research downgraded Medtronic, Inc. (NYSE: MDT) from Buy to Hold.

Standpoint analyst, Ronnie Moas, said, "The first name that we are dropping is MDT. We added/reinstated three healthcare equipment names in August and those were MDT, Stryker (NYSE: SYK) and Zimmer (NYSE: ZMH). We want to reduce our exposure there. Attached is our 13-page report on MDT, ZMH and SYK from September for whoever wants additional information. MDT is + 14.7% for us and + 900 bps versus the S&P-500. The shares remain undervalued by 10% but we feel MDT has run its course versus the S&P and we can no longer leave our highest recommendation attached to this name."

For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.

Shares of Medtronic, Inc. closed at $34.61 yesterday.

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