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We believe that Abbott stock and Medtronic stock in the medical devices industry will likely give similar returns over the next three years. Although Abbott is trading at a higher valuation of 4.2x trailing revenues, compared to 3.

Medtronic's Hugo RAS system is designed to be used in Expand URO U.S. clinical trial study for urologic surgical procedures.

Siemens Healthineers AG and General Electric Co's healthcare business are weighing a potential acquisition of two units being spun off by Medtronic Plc, Bloomberg news reported on Thursday, citing people familiar with the matter.