#4 - Medtronic (NYSE:MDT)
Healthcare is another sector for growth-oriented investors to watch. Medtronic PLC (NYSE: MDT) is the only pure-play medical device company with a product portfolio filled with life-saving devices such as implantable defibrillators, glucose monitoring systems, and surgical tools. In fact, it has 50% market share in its core heart devices.
The company beat on its top and bottom lines when it reported earnings, and both numbers were higher year-over-year despite tougher comparisons. It also raised its full-year guidance, and investors get a dividend that has a yield of 3.13%.
That doesn’t seem to excite analysts much. They have a consensus Hold on MDT stock with a price target that suggests future earnings growth is priced into the stock.
In fairness, it is trading near the top of its 52-week range. However, the stock trades at a forward P/E of around 16x earnings, That’s significantly lower than the sector average. And the company should get a tailwind from an aging population combined with the growing demand for acute care.
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
- $88.06
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 9 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $94.64 (7.5% Upside)
