Medtronic's (NYSE: MDT) most recently reported quarter, the fourth quarter of its fiscal year 2019, failed to impress investors. Revenue of $6 billion decreased by 26% year over year and came in below the $7.02 billion analysts were expecting. Furthermore, adjusted earnings per share were $0.58, down 62% year over year and well below the $1.06 in adjusted EPS that analysts had anticipated.
In addition to its dismal performance during the fourth quarter, Medtronic shares have performed worse than the broader market. Year to date, the stock is down by 13.1%, while the S&P 500 is only down by 5.8%. Despite these less-than-flattering metrics, there are several good reasons to consider buying shares of the medical devices company; here are three.
A surgical robot. Image source: Getty Images.
Source Fool.com