Stifel Raises Medtronic’s (MDT) Price Target After Positive Outlook on HUGO Robotic System
Medtronic plc (NYSE:MDT) is included among the 11 Defensive Healthcare Dividend Stocks to Buy Now.
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Medtronic plc (NYSE:MDT) is recognized as the world’s largest manufacturer of biomedical devices and implantable technologies. The company operates through four primary divisions: Cardiovascular, Neuroscience, Medical Surgical, and Diabetes.
On October 9, Stifel raised its price target on Medtronic plc (NYSE:MDT) from $90.00 to $105.00 while keeping a Hold rating, following a visit to the company’s Boston HUGO soft tissue surgical robotic facility. The firm mentioned that Medtronic appears “confidently ready” from supply-chain, manufacturing, and physician support standpoints to introduce its HUGO robotic system in the US, pending expected FDA approval by the end of fiscal 2026 (April). The company’s strong financial position further strengthens its expansion prospects.
The event offered investors a detailed look at the development of the HUGO system, including live demonstrations of Medtronic plc (NYSE:MDT)’s digital ecosystem technologies and an interactive Q&A session with the company’s management team.
Stifel noted that Medtronic intends to adopt “a deliberate and thoughtful approach” when introducing the HUGO system to the US market after receiving FDA approval.
In addition, Medtronic plc (NYSE:MDT) dividend adds to its investment appeal. The company is close to achieving Dividend King status, with 48 straight years of dividend increases.
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Disclosure: None.
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