Jeff Auxier Comments on Medtronic plc
- By Holly LaFon
Medtronic is a leader in implantable biomedical devices. Back in 2001 the stock traded at 37.5 times earnings and this past quarter traded down to 13 times earnings with a fortress balance sheet and a 7% free cash flow yield. They continue to be a leader in medical technology as their world's smallest pacemaker, Micra, accelerates US sales driving pacemaker market growth. They generate over $5 billion in free cash flow annually.
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From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management first quarter 2017 shareholder letter.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 7 Warning Signs with MDT. Click here to check it out.
The intrinsic value of MDT