Medtronic CEO: “Cautiously Optimistic”

William Hawkins, the outgoing CEO of Medtronic (MDT) made some comments about the industry at today’s JPMorgan Healthcare Conference. (That’s an odd coming-together of two of our Buy List stocks.)

Hawkins, who was named CEO in Aug. 2007, said he’s satisfied with his performance despite a roughly 30% decline in the company’s share price during his tenure in what’s been “arguably the toughest three years in the history of medical devices.”

“I feel like I’ve gotten done what I wanted to get done,” Hawkins said, citing in particular an improved position for the company in emerging markets such as China, better margins and a management team put in place that’s “truly is one of the best management teams in all of health care.”

Hawkins added that he is “cautiously optimistic” about the state of the industry in 2011, saying that there is some evidence people are starting to visit their physician more frequently, following a slow-down during the economic recession.

“We’re seeing some stability,” Hawkins said. “People, they can’t wait forever to have their back repaired.”

“Cautiously optimistic” is one of those nonsense phrases that sound like you’re saying something but you’re really not. It can be used in any situation.

Posted by on January 10th, 2011 at 4:00 pm


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