Medtronic kept at market outperform by JMP

JMP Securities analyst Robert C. Faulkner reiterated Medtronic Inc. at market outperform after the company provided marginally more detail on market development initiatives. Medtronic indicated some stabilization in the cardiac rhythm disease market. While the market is seeing some stabilization, management stopped short of calling an inflection. Chief operations officer Bill Hawkins declined to add to comments made during the first-quarter 2007 conference call indicating that the first two weeks of August were flat with July. Shares of the Minneapolis-based medical device company were down 21 cents, or 0.45%, at $46.20. (NYSE: MDT)

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