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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: kha vu who wrote (20886)	1/1/1999 4:57:00 PM
From: kha vu	Respond to of 120523

WSJ: HEARD ON THE STREET 12/31/98 At the $37 Billions market values, medical devices: Medtronic grows thru acquisitions. AVE was the last one announced on Nov30 and at the price of $3 billions. Stock is now traded at 45 projected earnings for the year ending in April 1999. Medtronic enters the stent market thru AVE acquisition. It could use AVE to boost its short term earnings but this action could dilute its long term growth. AVE market share could fall from 31% to 22% in 1999 according to one analyst. Based on 10Q filing for quarter ended Oct 30, some thinks that Medtronic is facing: a deterioration of cash flow, flat revenue growth and decline in its gross margin... Here are some number: Six month ended Oct 30: in millions 1998 1997 Revenue $1,434 $1,378 Earnings 299.4 294.4 Diluted Share earnings 0.61 0.61 Average daily volume: 1.7 millions Shares outstanding: 490.3 millions Trailing P/E: 78 Dividend yield: 0.3% ***********************************************