Medtronic price target raised to $85 from $83 at Goldman Sachs

Goldman Sachs analyst David Roman raised the firm’s price target on Medtronic (MDT) to $85 from $83 and keeps a Sell rating on the shares. The firm is updating its model with a roll of valuation estimates by one quarter but also notes the company’s Q3 revenue miss, the analyst tells investors in a research note. Goldman points to organic revenue growth of 4.1% slowing from 5.3% in Q1 and 5.0% in Q2. The firm adds that the key focal points for the quarter was the notable deceleration in the company’s Surgical & Endoscopy business, flu-related headwinds in Acute Care and Monitoring, and a strong uptick in Cardiac Ablation Solutions.