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MEDTRONIC, INC. (MDT).   Term Paper ID:29436 Click to get this paper

Essay Subject: Financial ratio analysis of the company.... More...

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Paper Abstract: Financial ratio analysis of the company. Company structure of four business units that manufacture medical devices to treat chronic diseases. News summaries of Medtronic's EPS. Company earnings and revenues. Human resource expenditures. Standard & Poors outlook of company. Two charts of Wall Street listings. Trends. Paper Introduction: Financial Ratio Analysis: Medtronic, Inc. (MDT) Company Description Medtronic, Inc. is a medical device manufacturer that provides treatment solutions for chronic disease. The company is structured into four business units: Cardiac Rhythm Management; Vascular; Cardiac Surgery; and Neurological, Spinal and ENT. In August 2001 Medtronic also acquired two companies, MiniMed Inc. and Medical Research Group, Inc., which will form Medtronic MiniMed. That company will provide diabetic treatment solutions. News Summaries UBS Warbu Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. (May 23, 2 1). S&P agrees with the company that revenues will be aidedby the introduction of new technologies across Medtronic's operations, aswell as the positive impact the recent acquisition of MiniMed and GeneralResearch should have. Medtronic Inc. 2, 2 2). 9| + .61|| |36.64 | |58 | | | |P/E ratio = price/ytd = 58Total Book value = Assets - liabilities - preferred stock = 7. The introduction ofnew technologies across all of its business units has continued to spurmarket estimates to maintain strong buy recommendations.Weaknesses:Medtronics appears to be slightly over-valued. ||Short-term | | | | ||Solvency | | | | ||Current ratio |2.763775 |3. moving the company into thediabetic treatment industry. UBS Warburg Remains Upbeat onMedtronic. The system will initially be used on patients with defibrillators,but Medtronic plans to extend the use to other internal cardiac devises asfurther FDA approval is gained.Summary of President's Letter, annual report 2 1 2 1 was the 16th consecutive year of increased earnings and revenuesfor Medtronics. (Jan. (2 2). Business Week. Pre-charge earnings rose 17% over the previousyear to $1. Medtronic, Inc. Future growth is promising for Medtronic, as new devices are beingintroduced in each of the four business areas in which the companyoperates. Medtronic increased its expenditure on Human Resources over the year;an acknowledgement that the company relies heavily on the skills andexpertise of its employees. Medtronic acquiredMiniMed, Inc. References Medtronic, Inc. The company, however, fails to mention the increasedinterest costs that will result from recent acquisitions. 39233 |2.418661 |1.5 ||Quick ratio |1.69 429 |1.646193 |1.2998 8 | .9 ||Long-term | | | | ||Solvency | | | | ||Total debt | | | |NA ||ratio | | | | ||Debt-equity | | | | .16 ||ratio | | | | |Financial Analysis:Trends: Medtronic has shown a continued trend of growth and expansion, boththrough acquisition and mergers, and increased R&D. The company also fails to mention the narrowing of margins that haveresulted from costs associated with increased R&D. He reiterated his strong buy position despite lowering hisprice target due to the slow sales and negative press regarding thecompany's cardiac unit.Medtronic wins FDA Backing, Financial Times, 1-2- 2 Medtronic has received FDA approval for its "CareLink" monitoringsystem. (Q4: ) Lothson reasoned that sales growth of only 6%was lower than expected, but remained strong on the stock. Finally, the company came through its 2 1 CEOtransition smoothly, and is now set to move ahead.Comparison of Medtronic Outlook with S&P Outlook: Standard and Poors expects a growth rate of 13% to 14% for fiscalyear 2 2. The negative impact of thatincident has been more than made up for through continued introduction ofnew devices across all of its business units, as well as a move into thediabetic treatment industry.Strengths:Medtronics main strength seems to be its R&D efforts. and Medical Research Group, Inc., which willform Medtronic MiniMed. The company is structured intofour business units: Cardiac Rhythm Management; Vascular; Cardiac Surgery;and Neurological, Spinal and ENT. Overall, S&P agrees with the company that the introduction of newproducts across its operating markets will result in increasing sales andearnings growth in 2 2.Wall Street Journal Listing, 1-23- 2|YTD | 52 Wk |Stock(SYM) | YLD |Vol |Last |Net ||% Chg |hi lo | |Div % PE |1 s | |CHG ||- 4.1 |56.88 |Medtronic MDT|.23 .5 |316 1 |49. 9= 5.9 BilCompany SIC: 3845Company Ratios:| |1999 |2 |2 1 |Industry Av. Available: http://businessweek.com Financial Times. Analysts appear tosee that incident having at least some impact on Medtronic stock into thenext fiscal year. Bil - 1.5Bil - = 5.5 BilTotal Market value = outstanding shares * price = 1.2 Bil * 49. A commitment over the past several years to introducing innovativedevices in order to gain a leadership position in every major market inwhich the company participates, continued in 2 1. Financial Ratio Analysis: Medtronic, Inc. Nonetheless, S&Pestimates the net EPS for 2 2 to be $1.22 per diluted share and seescontinued growth in that value to 2 3. According to Lothson, the last two quarters of fiscal 2 1 and fiscal2 2 looked promising for sales, as new technologies were due to beintroduced. Doctorsand patients can then log onto the Internet to review the patient'sinformation. The patients will scantheir internal devices with a small antenna that will then transfer theinformation via telephone line to Medtronic's internal computers. (2 1). In August 2 1 Medtronic also acquiredtwo companies, MiniMed Inc. 2 1). No additional adjustment to the patient's internal devise isrequired to use the CareLink monitor. (Jan. Company Financials - Medtronic, Inc. is a medical device manufacturer that providestreatment solutions for chronic disease. All four business unitsreported record earnings and revenues in 2 1. The system will allow doctors and patients with implanted cardiacdevices to review their condition via Internet. Available: http://www.ft.com [Online]. This would be a slow down from the 2 1 rate of 17% noted inthe Annual report. 5 per diluted share. and General Research Group, Inc. Hoover's. That company will provide diabetic treatmentsolutions.News SummariesUBS Warburg Remains Upbeat on Medtronic, Business Week, 5-23- 1 Analyst, David Lothson, lowered his estimate on Medtronic's EPS forfiscal 2 2 from $1.25 to $1.23 despite the company hitting it's consensusEPS for the quarter. Stock Report. Standard & Poor's. (MDT)Company Description Medtronic, Inc. This is in line with Medtronic'sown forecast for future earning growth, though S&P points out that morefavorable tax rates account for at least a part of that rise. The market readiness of these introductions range from beingunder consideration for FDA approval to having completed clinical testingand awaiting FDA revue. In addition Medtronic's move into the diabetictreatment industry through recent mergers promises to result in increasedearnings. 2 1 Annual Report. McGrawHill. Earnings too,have been strong. In addition, R&D expenditures rose 18%.Innovative work in cardiologic stints has been a main focus of R&D.Roughly two-thirds of 2 1 revenue was a result of these efforts over thelast two years. The absence ofdebt has also allowed the company to remain highly liquid. Hampered only by recent problems with a cardiac devicedistributed through its cardiac business unit. This has, for the mostpart resulted in a steady increase in value of the company. The business base, product line and economic reachcontinued to expand as well. Earnings per diluted share were $.85 afternon-recurring pre-tax charges. Revenue rose 14%, with foreign exchangetranslation reducing the growth rate to 11%. In addition, the company isstill recouping from a costly recall a cardiac devise. Medtronic wins FDA Backing.[Online]. 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