#10 - Medtronic (NYSE:MDT)
Medtronic (NYSE: MDT) - Many of the stocks in this presentation may require a certain degree of investor patience. Although they show a consistent pattern of growth, the time may not be right. That is not the case with Medtronic. The manufacturer of medical devices delivers solid results over any time frame. However, although the stock has grown nearly 50% in five years, the growth has come in small bursts – with some pullbacks in between. This is because, like many companies in this industry, they fall victim to unrealistic expectations that, when not meant, lead to irrational corrections. One of those corrections started in the fourth quarter of 2018 when the stock fell from its high of over $97. It is now trading at just over $87 and looks like it is primed to make a challenge of the previous high. Even if this isn't the perfect time, Medtronic is "trend-friendly" meaning that they are poised to service the market of consumers 65 and older who will be in need of their services in the coming years.
About Medtronic
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
Read More - Current Price
- $86.21
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 9 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $95.00 (10.2% Upside)
Buying on the dips is a tried-and-true investment strategy. But like any investment strategy, the success or failure frequently comes down to the assets you select. Some stocks are declining for reasons that will cause the stock to face selling pressure for quite a long time. In this case, buying on a dip can be like trying to catch a falling knife – and no investor wants that. However, there are many companies that seem to thrive when their stock pulls back. In fact, for them, it’s just the kind of pause that can propel them to higher growth. Whether it’s due to innovation, being an industry or sector leader, being committed to a regular dividend, expanding into new markets, or their ability to profit in any economy, these stocks have shown an ability to withstand the dips and come back stronger.
We encourage you to look into these stocks. Not ready to pull the trigger now? If you’re a subscriber to MarketBeat Premium, you can add these stocks to your watch list and get real-time updates when there’s breaking news on analyst ratings and other news that may push the stock forward.
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