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Home > Fortune 500 Companies > Medtronic, Incorporation.

Medtronic, Incorporation.

Medtronic, Incorporation is a publicly traded company having a good stock performances result. Medtronic, Incorporation is a Fortune 500 stock listed company trading under MDT symbol. Medtronic is the world leader in medical technology providing lifelong solutions for people with chronic disease. They offer products, therapies and services that enhance or extend the lives of millions of people. Each year, 5 million patients benefit from Medtronic's technology, used to treat conditions such as heart disease, diabetes, neurological disorders, and vascular illnesses.

Medtronic has a long record of being practical in establishing policies and practices that support strong corporate governance and transparency in financial reporting. These policies and practices are repeatedly reviewed and enhanced as suitable. The Company considers highly liquid investments with maturities of three months or less from the date of purchase to be cash equivalents. These investments are carried at cost, which approximates fair value. Investments in marketable equity securities and debt securities are classified and accounted for as available for sale at April 29, 2005 and April 30, 2004. Management decides the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date.

The Company accounts for these investments under the cost or the equity method of accounting, as appropriate. The valuation of equity securities accounted for under the cost method is based on all available financial information related to the investee, including valuations based on recent third party equity investments in the investee. Equity securities accounted for under the equity method are recorded at the amount of the Company’s investment and adjusted each period for the Company’s share of the investee’s income or loss and dividends paid.

In June 2001 the company's board of Directors authorized the repurchase of up to 25 million shares of company's common stock. On October 22, 2003 the company board of director authorized the repurchase of up to an additional 30 million shares of the company’s common stock. Shares are repurchased from time to time support the companies stock based compensation programs and to take advantage of favorable market conditions. The company has repurchased roughly 10.5 million and 18.4 million shares at an average price of 48.77 and 47.81 respectively, during fiscal year 2005 and 2004 and around 15.6 million shares remaining under the buyback authorization accepted by the board of directors.

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