MDT: A Boring and Reasonably Valued Medical Device Company

Unlike the Surgical Robot guys spinning our heads with science fiction as reality, unlike the purer play implantable valve and stent guys, unlike the implantable tissue guys… all with valuations to match their ‘gee whiz!’ factors, old Medtronic is just lumbering along in a daily chart bull flag…

mdt

…and a weekly chart Ascending Triangle.

mdt

Medtronic was never a customer of mine, but I was always aware of them as a giant in the medical device industry.

So, does MDT break out like Edwards (EW) did before it, or does it decide to drop and fill the gap and maybe test the Triangle’s lower line again? Who knows? But I see no reason to stop holding it right now. For the reason I don’t like INGN I do like MDT; valuation (and its chart). A forward P/E of 15.5 and a P/S under 4 is a lot better than many of its medical device peers.

So aside from the ridiculous TRXC and a couple other speculations, I am trying to hone down now to more staid items, including the stock market itself. I bought SPXU a couple days ago on the bearish backdrop as SPX dropped to the SMA 50. So far that’s working well.

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