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Medtronic: Fixing A Device That's Not Broken

On Tuesday, Minnesota-based worldwide medical therapies company Inc (NYSE:MDT) reported earnings.  The company earned roughly $900 million off revenues of about $4.1 billion. I’d like to phrase that slightly differently: after all the bills are paid, Medtronic Inc gets to keep $10 million a day. Given that Medtronic has roughly 1 billion shares outstanding, that translates to each share of stock being entitled to an ownership claim of about a penny a day.