Medical device giant (NYSE: MDT) has been somewhat of a stock market laggard over the past five years, partly due to pandemic-related disruptions. Even beyond this global issue, the healthcare giant has had trouble growing its revenue and earnings fast enough to excite investors. However, if its latest earnings report is any indication, Medtronic seems to be moving in the right direction, at least within what will arguably become its most important business in terms of driving up top-line growth.
Let's find out whether it's worth it to buy Medtronic's shares right now, given these developments.
Medtronic's business is diversified. The company boasts dozens of devices across four main segments: Medical surgical, neuroscience, cardiovascular, and diabetes. Though Medtronic records consistent earnings, its revenue growth hasn't been that impressive, a phenomenon that dates back to before the pandemic.
Source Fool.com