Medtronic is one of two stocks to consider buying during the month of October. (The other is Health Management Associates.)
Business Summary: Medtronic, Inc. is the world’s largest manufacturer of implantable biomedical devices, with sales to over 120 countries. Cardiac Rhythm Management products (bradycardia & tachycardia) accounted for 46.6% of ’03 sales; Neurological, Spinal, and Diabetes, 37.1%; Vascular products (stents), 9.3%; and Cardiac Surgery (heart valves, perfusion systems), 7.0%. Int’l: 32.2% of ’03 sales (34.2% of profits). Acq. five companies in ’98. ’03 depr. rate: 13.8%; R&D, 9.4% of sales. Est’d plant age: 12 years. Has 31,000 emps.; 51,500 stkhldrs. Off. & dir. control 1.0% of common (7/04 proxy). Chairman & Chief Executive Officer: Arthur D. Collins, Jr. Inc.: MN. Addr.: 710 Medtronic Pkwy. N.E., Minneapolis, MN 55432. Tel.: 763-514-4000. Internet: www.medtronic.com