Jim Cramer on Medtronic: “This Long-Term Winner’s Become a Short-Term Loser”

Medtronic plc (NYSE:MDT) was among the stocks Jim Cramer was focused on, as he discussed Mad Money’s latest game plan for the week. Cramer highlighted the company’s share price performance, as he said:

Wednesday morning, Medtronic reports. Speaking of jarring, this long-term winner’s become a short-term loser with the stock down 23% year to date. Medtronic is not alone; most of the medical device stocks are down with the worst being one of the best just last year, Boston Scientific, almost 50% down. I wish I could be aggressive in recommending Medtronic on Monday morning, but I can’t. Right now, we gotta wait to see the quarter. That group’s so awful.

Stock market data. Photo by Jakub Zerdzicki on Pexels

Medtronic plc (NYSE:MDT) develops and sells device-based medical therapies to healthcare systems, physicians, and patients. The company provides specialized products, including cardiac pacemakers, surgical instruments, robotic-assisted surgery platforms, and a number of diabetes management systems. A caller inquired about the stock during the March 26 episode, and Cramer replied:

I have to tell you, I was surprised that Medtronic got back down to the high $80s. I think that everything they’ve been doing lately is right. I think you’ve got a good one. By the way, it’s 15 times earnings. That’s very inexpensive. I would buy more… I know it sounds like you’re just averaging down into oblivion, but I think it’s a great level.

While we acknowledge the risk and potential of MDT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MDT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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