Every long-term investor should have at least some healthcare stocks in their portfolio. People will always need care, and the industry constantly looks for new and better ways to provide it. (NYSE: MDT) is a longtime staple in healthcare, as evidenced by its long history and 46 years of consecutive dividend growth.
The stock has outperformed the broader market over its lifetime but is nearly 40% off its highs today. Is this a dip worth buying, or is Medtronic's business losing its luster? This Fool investigated to find out. Here is what I found.
Medtronic provides medical devices, equipment, and supplies worldwide. The United States, the world's largest healthcare market, contributes roughly half of Medtronic's sales. The rest comes from both developed and emerging international markets. The pitfall of global markets is that Medtronic, which reports its financials in U.S. dollars, must translate its international revenue to dollars. An unfavorable exchange rate can understate Medtronic's reported profits.
Source Fool.com