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Biotech / Medical : Medtronic (MDT) -- Ignore unavailable to you. Want to Upgrade?

To: Mike who wrote (603)	1/15/2003 8:15:21 PM
From: Dennis	Respond to of 687

would appreciate any analysis you do ....interesting to see that we covered the entire 52 wk....low to high....in just 6 months.....i knew it was a good buy when it hit 32 back in july and did not pull the damn trigger for more.....gg Peace

To: Mike who wrote (603)	2/13/2003 7:17:28 AM
From: Mike	Read Replies (2) \| Respond to of 687

Dennis, MDT continues to grow into the PE the market has set the stock price. We have been for over two years building to this level. The stock price is actually down from a high of $60 1/2 in Dec 2000. The pe at that time was over 60. Now the pe is in the range of 30-35 depending on whether writeoffs are used. My point here is as we discussed a couple of months ago. Stocks move to "usually" valuations based on prior history of earnings growth. This year MDT will earn $1.21 and next year $1.41. MDT has been a solid performer at delivering earnings that are projected. For this consistency shareholders at times "boost" the for this past performance. I think MDT is "fairly" valued currently and will appreciate with the earnings. That means we may have stock appreciation of 25-30%. I can handle that growth. Mike