Medtronic cut to market outperform by JMP

JMP Securities analyst Robert C. Faulkner downgraded Medtronic, Inc. to market outperform from strong buy due in some degree to St. Jude's ICD numbers. The analyst's new target price is $61, with reduced full-year sales estimates of $12.2 billion, from $12.3 billion. Shares of the Minneapolis medical device company were down 82 cents, or 1.60%, at $50.58 on volume of 17,045,400 shares versus the three-month running average of 4,242,860 shares. (NYSE: MDT)

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