t seems like there's a cottage industry on the sell-side in "What's wrong with Medtronic (NYSE: MDT ) ?" pieces, but the stock has actually done OK since I last wrote on the company in late February. With Covidien pretty much flat in that time and Boston Scientific (NYSE: BSX ) and St. Jude Medical (NYSE: STJ ) both down, drug-fueled Johnson & Johnson is one of the few peers to really exceed the company's performance (while Bard has basically kept pace).
I continue to believe that Medtronic is undervalued as a
low-growth/high-quality med-tech supergiant. The company has
unquestionably seen multiple significant setbacks over the last year or
so, but the company still has lucrative franchises in CRM, spine,
neuromodulation, and diabetes that throw off plenty of cash and allow
the company to buy its way into future growth markets.
Read the full article here:
Why I'm Still Bullish on Medtronic
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