Medtronic, the world's leading medical technology company, has a surprisingly low profile outside its US homeland. Doctors, surgeons and scientists the world over are familiar with Medtronic, whose products are used to treat people with chronic disease, including heart failure, Parkinson's disease and diabetes. And in the US, Medtronic is hailed as something of a stock market hero. Yet investors outside the US remain relatively unaware of Medtronic's impressive track record.
Capitalised at $53.5bn (€56.7bn) and ranked 318th in the Fortune 500 list, Medtronic has delivered compound earnings growth of 22% over the past decade and a total return to shareholders of 35% a year over the same period. A series of acquisitions and important recent Food and Drug Administration approvals have given Medtronic a diverse portfolio of products, many of which are poised to take off, and analysts expect strong double-digit sales and eps growth to continue for at least the next five years.