A LONG TERM INVESTMENT
That is a long term chart of Medtronic (MDT), the medical device giant that is the world's largest maker of implantable medical devices, with products that treat heart and neurological disorders, as well as spinal conditions and diabetes.The company was highlighted yesterday in Barron's Online and I think they are exactly correct about the long term prospects for the company.
The stock is down about 14% since hitting a five year high in January. According to Barron's," the stock slumped amid growing fears about Medicare reimbursement rates for medical devices, especially pager sized heart devices called implantable cardioverter defibrillators (ICDs), Medtronics biggest seller."
Michael Barr, an analyst with Victory Capital Management was quoted in the article saying "Investors should take advantage of the weakness right now because they are not going to see opportunities like this come along all that often" Barr went on to say "I have a hard time understanding why the market has questioned Medtronic's growth rate to this extent, they have a very deep pipeline, and their profits are growing almost twice as fast as the SP 500."
There were other analysts interviewed in the article (all bullish) but I get the point and will be buying.
posted by DAVID at
10:14 AM
2 Comments:
As the man says don't leave home without one. I never leave mine behind (actually couldn't if I wanted to). The only problem with Medtronic is that they make the Cadilac of pacers. For that reason and the fact that there is some cheaper competition out there they may level out here and not go much higher.
While I recommend the company highly to anyone who needs this little artificial heart I don't know if I would recommend the stock. There is a difference.
I was a long time holder of the stock and did manage to sell it near 60 - but I think it is compelling here- and that is why there are bulls and bares-
david
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