When Goldman is Finished Building It's Real Position of "Short" Bias,
I pity the fools waiting around to see "GROWTH" again from this once darling whose GROWTH days are over tied to a plethora of reasons including healthcare REFORM. Goldman has been working behind the scenes for a long time now, so the DOWNGRADE should not be that far away.
This is no longer a "GROWTH STORY;" therefore, not an investable story except for takeover considerations whose "premiums" are constantly being reconsidered in light of macro market conditions. IMO
The growth experienced in the early part of the last decade was mostly due to STJ's entry into product segments where they previously didn't participate (dual-chamber and CRT ICDs). When you have 0% market share, there is a lot of room for growth. Now, there is pretty much parity between the 3 companies and a much bigger hurdle for any given innovation to sway market share significantly.
As the consolidation phase has begun in light of so much risk in healthcare and so many problems with STJ's core product set, it seems that THE GOLDMAN SUCKS is more than likely setting up a premium buyer vs. "SHORTING" this entity. Not one PEEP out of these scoundrels with all this bad news continuing to flood the wires on STJ.
If the sheep to be sheared is a public enterprise including ABT, hopefully, their management will flip the middle finger to The Goldman Sucks and demand a DISCOUNT from today's nose bleeding P/E in light of ZERO GROWTH PROSPECTS seemingly into perpetuity. IMO