Medtronic (MDT) Message Board

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Biotech / Medical : Medtronic (MDT)

MDT 90.41

0.0%

Nov 5 3:59 PM EST

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To: Thomas J Pittman who started this subject	8/21/2002 10:37:15 AM
From: Jack Hartmann	Read Replies (1) of 687

GS on MDT earnings We continue to recommend purchase of Medtronic shares.Yesterday,the company reported first fiscal (July)quarter financial results that were largely in-line with our expectations.EPS of $0.32 (+14%)equaled our estimate,while sales of $1.714 billion (+18%)exceeded our projection by $8 million.Sales were driven by continued strong acceptance of the company ’s InSync and InSync ICD heart failure devices,offset by modestly lower than expected sales of diabetes pumps and urology/gastroenterology sales.Based on this result and the company ’s strong product momentum,we believe that Medtronic ’s valuation remains attractive at current levels.

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