Medtronic Inc. (MDT): Today's Featured Health Services Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Medtronic ( MDT) pushed the Health Services industry higher today making it today's featured health services winner. The industry as a whole closed the day up 1.0%. By the end of trading, Medtronic rose $0.53 (1.1%) to $46.59 on light volume. Throughout the day, 3,285,714 shares of Medtronic exchanged hands as compared to its average daily volume of 4,411,900 shares. The stock ranged in a price between $46.17-$46.84 after having opened the day at $46.17 as compared to the previous trading day's close of $46.06. Other companies within the Health Services industry that increased today were: Medical Action Industries ( MDCI), up 11.3%, Trius Therapeutics ( TSRX), up 7.8%, Biolase ( BIOL), up 7.2% and Retractable Technologies ( RVP), up 6.0%.
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Medtronic, Inc. manufactures and sells device-based medical therapies worldwide. Medtronic has a market cap of $46.7 billion and is part of the health care sector. The company has a P/E ratio of 14.0, below the S&P 500 P/E ratio of 17.7. Shares are up 12.2% year to date as of the close of trading on Monday.

TheStreet Ratings rates Medtronic as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and attractive valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the negative front, Kips Bay Medical ( KIPS), down 8.7%, Ironwood Pharmaceuticals ( IRWD), down 6.3%, LipoScience ( LPDX), down 5.7% and IMRIS ( IMRS), down 5.4%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health services industry could consider Health Care Select Sector SPDR ( XLV) while those bearish on the health services industry could consider ProShares Ultra Short Health Care ( RXD).

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