Street Calls of the Week
Medtronic PLC’s stock has reached a significant milestone, hitting a 52-week high of 96.27 USD. The medical technology giant, with a market capitalization of $123 billion, maintains a "GREAT" financial health score according to InvestingPro analysis. This marks a notable achievement for the medical device company, reflecting a positive trend in its market performance. The stock has delivered an impressive 22.4% return year-to-date, while maintaining a 49-year streak of consecutive dividend payments with a current yield of ~3%. This increase in stock value underscores investor confidence and the company’s resilience in the healthcare sector. Analyst targets range from $81 to $112, reflecting varied outlooks on the company’s prospects. As Medtronic continues to innovate and expand its product offerings, its stock performance remains a key indicator of its financial health and market position. Discover 8 additional exclusive insights about Medtronic with a comprehensive Pro Research Report, available on InvestingPro.
In other recent news, Medtronic plc has been active with several significant developments. The company announced the issuance and closure of €1.5 billion in senior notes, consisting of €750 million of 2.950% notes due 2030 and €750 million of 4.200% notes due 2045. The net proceeds of approximately €1.49 billion are intended to repay existing senior notes due in 2025. Additionally, Medtronic received FDA approval for its Altaviva device, a minimally invasive therapy for urge urinary incontinence, highlighting advancements in its medical device offerings.
On the analyst front, Piper Sandler maintained a Neutral rating on Medtronic, noting challenges in the surgical business due to market shifts towards robotic procedures and GLP-1 medications. These factors contribute to ongoing pressures on the company’s advanced surgical products. Meanwhile, DexCom, another company in the medical technology space, had its Overweight rating reiterated by Piper Sandler, reflecting strong growth in the continuous glucose monitoring market. These recent developments provide a snapshot of Medtronic’s current strategic and operational activities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.