Shares in Medtronic Inc
The company beat analysts' estimates for earnings in the quarter ended Oct. 30 and has been strengthening its market share position in defibrillators, pacemakers and spinal devices.
The report cited Credit Suisse analyst Kristen Stewart as saying double-digit earnings-per-share growth is sustainable and a higher valuation is warranted.
Medtronics shares are trading at roughly 12 times forward earnings -- near a 10-year low -- and less than rival Boston Scientific Corp, which is trading at about 14.6 times forward earnings, according to the report.
Medtronics shares closed at $44.12 on Thursday.
(Reporting by Clare Baldwin; Editing by Leslie Adler) Keywords: MEDTRONICS/ COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company beat analysts' estimates for earnings in the quarter ended Oct. 30 and has been strengthening its market share position in defibrillators, pacemakers and spinal devices.
The report cited Credit Suisse analyst Kristen Stewart as saying double-digit earnings-per-share growth is sustainable and a higher valuation is warranted.
Medtronics shares are trading at roughly 12 times forward earnings -- near a 10-year low -- and less than rival Boston Scientific Corp, which is trading at about 14.6 times forward earnings, according to the report.
Medtronics shares closed at $44.12 on Thursday.
(Reporting by Clare Baldwin; Editing by Leslie Adler) Keywords: MEDTRONICS/ COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.