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Investing.com - Stifel has raised its price target on Medtronic, Inc. (NYSE:MDT) to $105.00 from $90.00 while maintaining a Hold rating following a tour of the company’s Boston HUGO soft tissue surgical robotic facility. The $125.5 billion healthcare equipment giant has seen its stock surge 25.5% year-to-date, trading near its 52-week high of $99.37. According to InvestingPro data, analyst targets for the stock range from $81 to $112.
The research firm noted that Medtronic appears "confidently ready" from supply-chain, manufacturing, and physician support perspectives to launch its HUGO robotic system in the United States following anticipated FDA approval by the end of fiscal 2026 (April). The company’s strong financial health, rated as GREAT by InvestingPro analysts, supports its expansion plans. Get access to 8 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
During the facility visit, Stifel analysts met with several Medtronic executives, including Mike Marinaro, Executive Vice President and President of Medical Surgical Portfolio and Americas, and Rajit Kamal, Vice President and General Manager of Robotic Surgical Technologies.
The event provided investors with a comprehensive overview of the HUGO system’s development progress, along with demonstrations of Medtronic’s digital ecosystem technologies and an opportunity for questions and answers with the management team.
Stifel observed that Medtronic plans to take "a deliberate and thoughtful approach" to launching HUGO following the initial FDA approval in the United States.
In other recent news, Medtronic has initiated the Embrace Gynecology clinical study in the United States to evaluate its Hugo robotic-assisted surgery system for gynecological procedures. The study aims to assess the safety and effectiveness of the system in hysterectomy procedures, with the first procedures completed at AHN West Penn Hospital in Pittsburgh. Additionally, Medtronic has closed a €1.5 billion senior notes offering, consisting of €750 million in 2.950% senior notes due 2030 and €750 million in 4.200% senior notes due 2045. The net proceeds of approximately €1.49 billion will be used to repay existing debt due in 2025. Moreover, Medtronic has received FDA approval for its Altaviva device, a minimally invasive therapy for urge urinary incontinence. The device, implanted near the ankle, helps restore communication between the bladder and brain for improved bladder control. In other developments, Piper Sandler has reiterated its Overweight rating for DexCom, citing strong growth in the continuous glucose monitoring market. This growth is primarily driven by basal insulin users, according to the research firm.
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