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Medtronic PLC's stock MDT rose 0.8% premarket Tuesday, after the medical device maker posted better-than-expected earnings for its fiscal second quarter and raised guidance. Dublin-based Medtronic posted net income of $909 million, or 68 cents a share, for the quarter to Oct. 27, up from $435 million, or 32 cents a share, in the year-earlier period.
Medtronic on Tuesday raised its annual profit forecast for the second time this year, banking on higher demand for its medical devices as surgery volumes pick up pace.
Johnson & Johnson and Medtronic are leaders in the medical device industry and both delivered growth in the most recent quarter. One of these stocks looks like a better buy right now.
Strong growth in the Cardiovascular, Medical Surgical, and Neuroscience portfolios, and in Diabetes markets drove Medtronic (MDT) Q4 revenues.
Wells Fargo analysts raised their price target for shares of the medical-technology company to $100 from $77.
"Dividend Aristocrats in the S&P 500 Index have raised their annual payouts every year for at least 25 consecutive years." - Kiplinger.com/Investing. 67 Aristocrats, screened as of April 5, 2023, represented all eleven Morningstar Sectors. Broker estimated top ten net gains ranged from 14.14%-42.97% topped by SWK & VFC.
In these tumultuous times, with markets facing substantial headwinds from yet another financial crisis, savvy investors are on the lookout for safe havens. Perhaps the best refuge is in undervalued dividend stocks, particularly those trading at significant discounts compared to their sector peers.
Medtronic and ExxonMobil are two top dividend stocks that have been raising their payouts for 40-plus years. Medtronic's business should pick up this year now that China has abandoned its restrictive COVID lockdowns.
The world's largest medical device maker Medtronic PLC (NYSE: MDT) stock has fallen since April 2022. However, shares may have bottomed out.
Geoffrey Martha, Medtronic CEO, joins 'TechCheck' to discuss future of the company and his outlook for 2023.