Could Medtronic Stock Help You Become a Millionaire?
The stock market has the potential to make just about anybody with enough patience and discipline a millionaire. This is because it has historically delivered 10% annual total returns over the long run, which is enough to double the wealth of an investor every seven years.
The medical devices maker (NYSE: MDT) has been a tremendous wealth-building stock for decades: A $33,000 investment made 30 years ago in the company would now be worth more than $1 million with dividends reinvested. For context, that same investment in the S 500 index would have grown to $562,000. This raises the following question: Does Medtronic still have the potential to help mint millionaires moving forward? Let's look at the company's fundamentals and valuation to address this question.
With just shy of 50,000 patents in its product portfolio, Medtronic is among the most inventive businesses in the world. This explains how the company's devices treat tens of millions of patients each year with dozens of medical conditions across numerous therapy areas, including cardiovascular, neuroscience, and diabetes, as well as respiratory, gastrointestinal, and renal.
Source Fool.com
Medtronic plc Stock
With 8 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 94 € shows a slightly positive potential of 15.91% compared to the current price of 81.1 € for Medtronic plc.
