Medtronic (MDT) Message Board

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Biotech / Medical : Medtronic (MDT)

MDT 99.87

+0.1%

Dec 12 9:30 AM EST

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To: Gottfried who wrote (34)	3/28/1997 10:55:00 AM
From: Jeff Walberg	of 687

>According to Zacks, analysts expected only an increase from last years 2.19 to 2.23. Correct me if I'm wrong, but I don't think your interpretation of the Zacks data is correct. When they say "Estimates for this year", I believe they mean fiscal '97 and not the coming four quarters. If this is true, you should compare the '97 estimate of 2.23 to the '96 earnings of 1.88 and not to the 2.19 figure (which is based on previous four quarters). If my interpretation is correct, the PE seems pretty reasonable now, but if they are only going to grow at 15% (as the "next year" Zacks forcast seems to agree with), then a PE of ~28 seems rather precarious. Any thoughts?

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