Why Medtronic Stock Topped the Market on Thursday
Prominent medical-device maker (NYSE: MDT) was a hit on the stock exchange Thursday. The company's share price rose by nearly 2% following regulatory approval of an important new product. The stock's trajectory was higher than that of the S 500 index, which closed the day 0.3% higher.
After market close on Wednesday, Medtronic announced -- no doubt happily -- that the U.S. Food and Drug Administration (FDA) approved the product. This is the PulseSelect Pulsed Field Ablation (PFA) System for the treatment of paroxysmal and persistent atrial fibrillation (AF) -- i.e., irregular heart rhythm (also known as arrhythmia). The condition often leads to stroke or heart failure.
This approval is historic on our shores as it marks the first time a PFA device has been given the green light by the FDA. The technology uses electric pulses to induce scarring on the heart's interior, which helps to interrupt the electrical signals that produce arrhythmias.
Source Fool.com
Medtronic plc Stock
With 6 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 91 € shows a positive potential of 23.12% compared to the current price of 73.91 € for Medtronic plc.
