3 Reasons to Buy Medtronic Stock
Over the past few years, medical device companies have struggled as the pandemic disrupted much of the industry, and economic problems contributed to lower sales and increasing expenses. Healthcare giant (NYSE: MDT) did not escape these headwinds, which partly explains why the company's shares have decreased by 12% over the past 12 months.
Still, Medtronic has plenty of redeeming qualities, especially for investors willing to hold the company's shares for a while. Let's consider three reasons to buy the company's stock right now.
This graph below shows that Medtronic's slow revenue growth problems predate the pandemic. At the start of the outbreak, its top line dropped off a cliff, and it later recouped those losses once the volume of elective surgeries bounced back after declining in the early days of COVID.
Source Fool.com
Medtronic plc Stock
We see a rather positive sentiment for Medtronic plc with 6 Buy predictions and 2 Sell predictions.
With a target price of 91 € there is a positive potential of 21.82% for Medtronic plc compared to the current price of 74.7 €.
