5 Best Diabetes Stocks To Buy Now

In this article, we discuss the 5 best diabetes stocks to buy now. If you want to read about some more diabetes stocks, go directly to 10 Best Diabetes Stocks To Buy Now.

5. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 54     

Medtronic plc (NYSE:MDT) develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients. It is one of the premier diabetes stocks to invest in. On September 20, regulatory authorities in the United States warned about a potential cybersecurity risk for an insulin pump system developed by Medtronic. The regulatory body said the MiniMed 600 series pump system had parts that communicate wirelessly but clarified that it had not received any reports related to their misuse yet. 

On September 7, RBC Capital analyst Shagun Sing maintained an Outperform rating on Medtronic plc (NYSE:MDT) stock and lowered the price target to $110 from $122, appreciating the earnings and guidance numbers of the firm. 

Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in Medtronic plc (NYSE:MDT), with 3.8 million shares worth more than $338 million.  

In its Q1 2022 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Medtronic plc (NYSE:MDT) was one of them. Here is what the fund said:

“Ireland-based Medtronic plc (NYSE:MDT) is a leading health care company focused on supplying many important life-saving devices like pacemakers, defibrillators, and insulin pumps. This is another company with attractive pricing power and a business model that can hold up well during inflationary periods. Medtronic has increased market share across almost 70% of its portfolio since the start of the pandemic, which is a higher percentage than even before the pandemic. With growth-oriented companies falling out of favor over the quarter, the stock’s relatively discounted valuation (at approximately 19x earnings) also bolstered its performance.”