Should You Buy This Beaten-Down Blue-Chip Stock?

While the S&P 500 has surged 27% year to date amid the economic recovery, shares of the leading medical device stock Medtronic (NYSE: MDT) have tumbled 13% over the same period. With Medtronic's stock less than 5% off its 52-week low, this raises the following questions: Is Medtronic now a buy? Or should investors remain on the sidelines?

Let's take a look at potential reasons for Medtronic's underperformance, its operating fundamentals, and its valuation to tackle these questions.

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Source Fool.com