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Biotech / Medical : Medtronic (MDT)
MDT 90.07-0.4%12:35 PM EST
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To: Dennis who wrote (541)4/5/2001 8:23:02 AM
From: Mike  Read Replies (1) of 687
 
So what is a reasonable price for MDT? We have been falling since the start of the year when the PE got over 60. Currently the pe is now around 40. Based on the previous conference call earnings are expected to grow in the 15-18% range. Even with this dramatic drop in the stock price our peg ratio is over 2. So what is the take on what is a reasonable pe for MDT stock?

Below is a chart from Yahoo that show the following

Year PE Earnings Stock price from June (Average)

F/Y P/E EPS($)Average June Stock Split
stock price

82 14.94 3.03 45.27
83 17.21 3.34 57.49
84 7.82 3.64 28.46
85 12.80 2.48 31.75
86 19.30 3.65 70.43
87 18.26 5.25 95.85
88 12.51 6.32 79.08
89 13.23 7.30 96.59 2 for 1
90 19.64 4.03 79.14
91 25.53 4.50 114.88 2 for 1
92 28.60 2.71 77.51
93 19.82 3.32 65.81
94 20.30 4.05 82.21 2 for 1
95 29.64 2.55 75.74 2 for 1
96 29.89 1.88 56.19
97 36.13 2.22 80.20 2 for 1
98 61.51 0.96 59.05
99 93.73 0.79 74.05 2 for 1
00 57.13 0.86 49.19

Medtronic's fiscal year(F/Y) ends on April 30

The P/E ratio calculated based on F/Y earnings

The price used for the P/E calculation is the average June stock price. This average price was selected to eliminate any extreme stock price fluctuation that might have occurred following the release of 4Q and F/Y results that are reported by MDT in late May.

What is a reasonable PE with earnings expectations around $1.26 for FY 02?

Thanks,
Mhat
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