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Sunday, June 20, 2021

Sitting on a Cash Pile 4.0? Med-tech Giant for a Safe Healthcare Position

#cash #medtech #healthcare


Medtronic: This med-tech giant is a solid pick for investors looking for a safe position in the healthcare sector and a new member of our CP-List

Medtronic (NYSE:MDT) develops, manufactures, distributes and sells device-based medical therapies to hospitals, physicians, clinicians and patients worldwide.

The company announced this Summer that Blackstone’s life sciences division will invest $337-M into the research and development of its diabetes device technologies. Under the terms of the agreement, Medtronic will receive funding for 4 diabetes programs over the next several years. Medtronic’s engineering, clinical and regulatory teams will conduct the development work for the programs.

Blackstone’s investment is sought to pull forward specific programs for its diabetes pump and continuous glucose monitoring pipeline devices that aim to address unmet patient needs. If the programs are successful, Medtronic will pay royalties that are expected to be in the low to mid-single-digit range as a percentage of sales.

Investors receive a 2.28% dividend. Our long term price target for the shares is 147. 60, the Wall Street consensus target is 110.17. Medtronic is trading at 102.16 pre-market Wednesday against its 52 wk trading range of 72.13 – 122.15

Overall, I am Very Bullish the stock, it broke out on 31 July at 96.48 and confirmed on 18 August at 101.50. Support is Strong 100.27, resistance is light through 104.84. All of our Key indicators are Very Bullish in here.

The company was founded in Y 1949 and is HQ’d in Dublin, Ireland.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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