Generally
speaking, Medtronic's
(NYSE:MDT)
in the same boat as every other large-cap med-tech stock, where
valuation has been compressed by worries about long-term growth
prospects. Like Covidien
(NYSE:COV),
Johnson
& Johnson
(NYSE:JNJ)
and a handful of select others, Medtronic seems to be past the worst
of the growth lull, and the company has several potentially major
products lined up in the pipeline. Now the real question for
investors is the extent to which this quarter's growth can be
sustained and whether the Street will come back and take a fancy to
the significant cash flow this company generates.
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