The rainfall from Hurricane Maria may have stopped days ago but the fall-out will be felt for months on end, and in Puerto Rico's case, year.

The same can be said for medical device maker, Medtronic plc (MDT) - Get Medtronic Plc (MDT) Report , as the company said Friday the hurricane would greatly impact its second quarter financial results.

The statements caused Leerink Partners LLC analysts on Monday, Oct. 9, to lower their price target on the Dublin-based medical device maker. Leerink analysts lowered their price target on Medtronic's stock to $85 from $88 and reiterated their market perform rating.

Shares were trading at $77.47 on Monday, down nearly 3%.

Medtronic, whose four business units have some level of manufacturing in Puerto Rico, estimates an impact to both revenue and non-GAAP net earnings up to $250 million in the fiscal 2018 second quarter, which ends on Oct. 27. Medtronic said it was too soon to determine the hurricane's impact, if any, beyond the quarter. Medtronic's total revenue of $29.710 billion for fiscal year 2017 ended April 28.

"While clearly hurricane impact is transitory and doesn't change underlying fundamentals, we are increasingly cautious on MDT in light of this news," wrote Leerink analyst Danielle Antalffy, noting that "[i]mprovement in recent fundamentals is increasingly dependent on the success of new product launches --some of which are manufactured out of the company's PR facilities."

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Antalffy also pointed out that Medtronic faces headwinds in some of its businesses including "diabetes with a sensor supply constraint and Cardiac Rhythm Monitoring (CRM) with just-launched competitive MRI safe high power devices."

"In addition, the extent of impact -- whether it'll bleed into future quarters beyond F2Q18 -- is unclear at the moment," she added.

Leerink analysts are inclined to stay on the sidelines "until we gain some clarity around timing/extent of some of these recent more transitory as well as fundamental competitive headwinds,"  Antalffy wrote.

In its news release on Friday, Medtronic said it continues to expect mid-single digit revenue growth on a comparable, constant currency basis in the second half of the fiscal year due to the expected strength of new product demand, especially in the cardiac and vascular unit and diabetes group.

Medtronic said all of its facilities in Puerto Rico are partially operating with the assistance of back-up generators, and the company expects to gradually ramp up manufacturing in the coming weeks.

In other Medtronic news, the company said Oct. 9 it it has secured approval from the U.S. Food and Drug Administration for the Endurant II/IIs stent graft system for the treatment of abdominal aortic aneurysm patients with neck lengths down to 4mm and <=60° infra-renal angulation when used with the Heli-FX EndoAnchor system.

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