Biotech Values

[DewDiligence]

MDT continues to be in a funk (as are many medical-device companies):

http://www.nytimes.com/2012/02/22/business/medtronic-reports-higher-profit.html

Medtronic reported disappointing quarterly results [yesterday], reflecting continued weak demand for its implantable heart defibrillators and spine products…

Although MDT is a beneficiary of The Global Demographic Tailwind, I stand by the assertion in #msg-66457638 (from Aug 2011) that there are better ways to play this theme. (Since that post, MDT is up about 15%, underperforming the S&P 500 by a couple of percentage points.)