Morgan Keegan Provides Color on Medtronic

Morgan Keegan provided color on Medtronic (NYSE: MDT). In a research report published today, Morgan Keegan commented on the problems in some research, which had been sponsored by Medtronic.

In the report, Morgan Keegan states, “Review of 13 InFuse Studies identifies important failings, especially in not identifying adverse events, but attributing the failures primarily to Medtronic seems to us to be wrong… We are lowering our revenue estimate for InFuse by 15% in FY2012 to account for the response to this review and other investigations currently underway.”

At the moment, Morgan Keegan has a Market Perform rating and a price target of $43 placed on the company's stock. On Wednesday, Morgan Keegan lost 2.36% of its value to finish the day at $38.09.