11 Best Healthcare AI Stocks to Buy Now

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4. Medtronic plc (NYSE:MDT)

Stock Upside Potential: 13.52%

Number of Hedge Fund Holders: 58

Medtronic plc (NYSE:MDT) is one of the best healthcare AI stocks to buy now. On December 4, Stifel reaffirmed its Hold rating on Medtronic plc (NYSE:MDT), along with a $105 price target. This action came soon after the FDA granted regulatory approval to Medtronic’s HUGO robotic-assisted surgery (RAS) system.

Stifel described the HUGO approval as an important and positive step for Medtronic, ending a long development phase and finally opening the door to competition in the US surgical robotics market. The firm pointed out that this allows Medtronic to challenge dominant players in minimally invasive procedures, where robotic systems are increasingly used. However, Stifel expects any meaningful added revenue from the HUGO launch to begin only in Medtronic’s fiscal year 2027.

Medtronic announced the approval on December 3, stating that the HUGO RAS system will be used in minimally invasive urologic surgical procedures. As a result, the system will operate in the US where it is now indicated for procedures such as prostatectomy (prostate removal), nephrectomy (kidney removal), and cystectomy (bladder removal).

The clearance followed positive results from the Expand URO investigational device exemption (IDE) clinical study. Medtronic described the study as the largest multi-center prospective IDE trial for multi-port robotic-assisted urologic surgery in the US. The company plans a phased launch focused on partnerships with leading hospitals.

Medtronic plc (NYSE:MDT) develops and manufactures medical devices and therapies across cardiovascular, diabetes, surgical, and neurological care. The company’s AI-enabled portfolio includes GI Genius, Touch Surgery Enterprise for surgical video analysis, AiBLE for neurosurgery, and the MiniMed 780G insulin pump.

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