#5 - Medtronic (NYSE:MDT)
Outpatient surgery was one of the areas of the healthcare sector that was most affected by the pandemic. And it’s taken Medtronic (NYSE:MDT) stock the better part of a year to get back to its pre-pandemic level.
As a $160 billion company, and a dividend aristocrat no less, you may not perceive Medtronic as being a leader in medical innovation. However, the company is a growing presence in robotic-assisted surgeries. This sector is still in its early stages of growth. It has however received a lift in awareness at least from the novel coronavirus which has provided a real-world use case for the concept of robotic surgery.
That awareness did not translate into revenue as the market for robotic surgery devices dropped in 2020 to just under $5 billion. But according to the firm Research and Markets, this market is expected to grow to $7.71 billion in 2023 at a compound annual growth rate (CAGR) of 16.8%.
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.
More- Current Price
- $91.91
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 9 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $95.00 (3.4% Upside)
