Medtronic is a global leader in implantable medical devices. The company has been flourishing under newly appointed management, which is improving efficiency and the product pipeline. In its fiscal first quarter, the company grew its revenue by 18.5% year over year, which was a quicker pace than the 17.7% rate reported in the previous quarter, despite the declining condition of the global economy. At the same time, gross margin improved to 76.9% from 74.7%. Demand is not likely to fall significantly given its position as a medical company that generally provides products that greatly benefit patients' well-being. A study released yesterday demonstrated that drug-eluting coronary stents perform materially better than normal ones; this is a major product category for Medtronic. It is also making successful inroads towards improving its position in other product categories such as chronic pain relief and glucose monitoring for diabetes patients. The stock's current price reflects excess devaluation along with the broad market, giving it ample room to appreciate. I'm looking for a move to $45 and then $50 longer term.