Medtronic management is doing everything in their power to sink this company. The recent missteps- lost revenue due to SAP integration, supply issues for new diabetes products, constant drag in spine, diabetes recall, spending big dollars to get into robotic surgery space with no timetable for introduction- all point to ineffective management. Not to mention the mountain of debt that the company has amassed due to the covidien acquisition that necessitated the recent sale of the supplies division to cardinal. Still didn't create enough cash to meet their obligations. Time to clean house, starting at the top! Then maybe, just maybe we can see a consistent return on stock price. Get rid of Omar! Bring in someone who can wrest back some control and let's lose all of the yes men he has surrounded himself with. The biggest waste of high salary ineffective sycophants I've ever seen
Stock price when Omar joined MDT in 2011 was $44 / share as a high across the year. Today MDT PLC sits as $82 / share; Long term debt was $8.1B on a revenue basis of $15B / now $7.5B on $29B; Cash and cash equivalents were 1.3B in 2011 and are now at 4.9 billion; 26% profit margin compared to 30% profit margins. Where are you getting your information?
Omar is an ultra-left liberal consumed more by social goals and bottom-line management versus clinical innovation and game-changing tech. Looks great for Wall Street, sucks shit for sales.
the stock price has improved during the time Omar has been CEO but how has it done compared to the Dow Jones or our sector during that same time? It has nothing to do with Omar and all his incompetent friends (Geoff, Hooman, Mike, etc.) that he gave undeserved obscene paying jobs to in reward for their loyalty to him. Omar joined just when a number of significant key product launches were occurring across many of the divisions. The stock price would have gone up under anyone as CEO. A lot of people in this company are very worried about the direction he is leading us.
Changes need to be made. Hooman doesn't understand the business and has made bad choice after bad choice. Under his leadership the culture of the division is at an all time low. He's had enough time to make a positive impact and he hasn't. He's failed to successfully launch a once in a lifetime product. Time for him to go.
A GE guy who doesn't understand anything other than large-scale capital equipment? UNPOSSIBLE. They've shed some of the masters of the universe whose egos far outweighed their abilities (e.g. JDM) but an already market-leading position and complete apathy from J&J and Roche are saving the business. Abbott is going to clean all of our clocks with the Libre.
Totally agree. No benefit to the company from Covidien "merger " , stock price since close of acquisition in 1/2015 has underperformed Dow . No benefit of Covidien at all especially now with potential corporate tax rate cuts for US companies. Just a mess , loss jobs, too difficult to manage with no apparent direction and no benefit to shareholders.
I couldn't agree more. The previous comments also have merit. There's a bunch of whipped dogs out there in management who only manage up and send spreadsheets down. They barely understand the therapies & products whilst they pretend to be a manager, when all they are is someone who was willing to relocate, kiss a lot of ass, say yes, and fake it until they make it. There are a few decent personnel left in the BUs but they are outnumbered by the others. Then there's the new divisions for Value-based Healthcare, Hospital Solutions, and Health Systems strategies, that produce practically zero revenue while flying around the world more than scavenging turkey vulture. Their only skill being PowerPoint and thinking a lot. Basically we need to organize as shareholders and force the regime to change or move out. Both the board of directors and the CEO are complicit. PS. Omar sold some share today for a tidy sum of $11mil.
And that's why Kenneth Steiner has filed suit against MDT. http://m.startribune.com/shareholder-suit-over-medtronic-covidien-deal-stays-alive/440767353/
Congratulations Omar, you have returned solid stockholder value! The stock is worth essentially the same as was in 2015 when you made the decision to acquire Covidien. You paid an obscene amount, $43 Billion, to make that happen and to reincorporate in Ireland. Presumably to free up all of that overseas cash and create shareholder value. But, where is the value? The stock is stagnant, you cost the average shareholder a boatload of money because they had to pay taxes on the stock sale when you reincorporated and any new innovations have been continuously screwed up. Apparently the only value that has been created over your tenure has been for yourself and the ineffective management team you have surrounded yourself with. Time to man up and step down.
You realize that without the addition of the COV business the stock would have come down?! Legacy MDT business units have been contracting and growing much slower. Unless you provide any real evidence your issue w Omar is purely personal. Grow up, do some DD, and share your real thoughts. Not this masked bs.
Not disputing that the cov acquisition didn’t help Medtronic. I was there! My point is that NOTHING has changed for shareholders since. Stock is where it was nearly 3 years ago when they completed the acquisition. How have stockholders benefited? Since the acquisition there have been a few positive opportunities, but each time the company/senior managers have screwed them up! Each screw up has resulted in a stock price pullback. How has that benefited stockholders? Where is the accountability? Doesn’t it lie with the CEO? Why haven’t the $850 million in cost savings from the acquisition resulted in higher stock prices rather than just a loss in jobs and people? Why hasn’t the sale of a former Covidien division with lower margins than Medtronics core business for $6billion and the resulting increase in margin for Medtronic resulted in higher stock prices? Has Omar or his management team taken a pay cut? Pay for performance! Perform or get out! Practice what the cult preaches, or are the Medtronic tenets just something that looks good in brochure for milllenials who don’t know any better while they look for their first job. Shall I go on?
