11 Best Medical Technology Stocks to Buy Right Now

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6. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 63

Stock Upside: 41.39%

Medtronic plc (NYSE:MDT) is one of the best medical technology stocks to buy right now. On May 21, Goldman Sachs reinstated coverage of Medtronic plc (NYSE:MDT) with a Neutral rating and an $84 price target.

The firm noted that Medtronic stock’s sharp pullback has brought its risk/reward profile to a roughly balanced position. Goldman sees the stock as appropriately priced at about a 10% discount to the Large Cap MedTech peer group, a gap it believes is justified by Medtronic’s relative pace of organic revenue and earnings growth compared to its bigger rivals. Put simply, the firm believes the stock is not a bargain, and not overpriced either.

Goldman models that Medtronic’s organic revenue will grow roughly in line with the long-term medtech sector average of around 5%. It expects earnings to grow more modestly because the product mix is less favorable to margin expansion than the wider peer group. In other words, Medtronic will need to grow its top line harder to achieve the same bottom-line lift as competitors.

Goldman had carried a Sell rating on Medtronic for over a year after first initiating at Sell in May 2024 with an $83 target. It then upgraded to Neutral in November 2025 with a $111 target after which it dropped coverage.

Medtronic plc (NYSE:MDT) is a global medical technology company that designs and manufactures a broad portfolio of devices and therapies used in cardiovascular, neuroscience, diabetes, and surgical care. Its key products include implantable pacemakers, defibrillators, insulin pumps, spinal and brain stimulation systems.

While we acknowledge the potential of MDT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MDT and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Medical Technology Stocks to Buy Right Now.

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