For Medtronic, J.P. Morgan Expects Another Round Of Downward Guidance

Medtronic Inc.

is scheduled to report 2Q results on Tuesday, November 23, J.P. Morgan reports. “Our forecast calls for revenues of $3.885B (+1.2% reported, 2.2% constant currency, and 1.0% organic) and EPS of $0.81 (+6.2%),” J.P. Morgan writes. “While this is a tad better than the company's 1Q performance, it is still at the lower end of consensus and in all likelihood sets the stage for another round of downward guidance revisions for the company's FY 2011.” Medtronic currently trades at $35.49.