11 Best Medical Device Stocks to Buy Now

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9. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 67

Medtronic plc (NYSE:MDT) is a medical technology company that manufactures, distributes, and sells device-based medical services and therapies. It operates under four primary segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.

On April 25, the company attained FDA approval for the OmniaSecure defibrillation lead for placement within the right ventricle. Built on Medtronic plc’s (NYSE:MDT) portfolio of lead solutions specialized for precise delivery and placement, it is the world’s smallest defibrillation lead and marks a meaningful innovation in electrophysiology.

The company also has positive investor sentiment due to its recent announcement of the Expand URO Investigational Device Exemption clinical study results on April 27. It was the largest robotic-assisted urologic surgery study ever conducted, and it met both primary safety and effectiveness endpoints.

On April 28, Wells Fargo analyst Larry Biegelsen maintained a Buy rating on Medtronic plc (NYSE:MDT) and set a price target of $98.00.

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