Jim Cramer Called Medtronic a "Quandary." Here's Why He's Exactly Right.
Wall Street doesn't appear to be giving Medtronic credit for its improving results.
Overview
Wall Street is a fickle place, with investor emotions often shifting quickly. But sometimes, somewhat ironically, investor opinions are stubbornly hard to change. That's likely what's behind Jim Cramer's description of Medtronic (NYSE: MDT) as a "quandary." Here's the backstory and why long-term dividend investors may want to reevaluate their opinion of this medical device giant right now.
Medtronic is an industry-leading medical device maker, with a market cap of roughly $115 billion. A few years ago, the company's growth slowed to a crawl, and a bloated business made decision-making more difficult. This type of thing happens to large companies over time. Investors sold the stock in favor of more nimble businesses. From its 2021 high to its 2023 low, Medtonic's stock lost nearly half of its value.
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Originally published at www.fool.com.