5 Best Medical Stocks To Invest In

In this article, we discuss 5 best medical stocks to invest in. If you want to see more stocks in this selection, check out 13 Best Medical Stocks To Invest In. 

5. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 58

Medtronic plc (NYSE:MDT) develops, manufactures, and sells device-based medical therapies worldwide, including implantable cardiac pacemakers, cardioverter defibrillators, cardiac resynchronization therapy devices, cardiac ablation products, and insertable cardiac monitor systems. Medtronic plc (NYSE:MDT) is one of the best medical stocks to invest in. 

On March 2, the company declared a quarterly dividend of $0.68 per share, in line with previous. The dividend is payable on April 14, to shareholders of record on March 24. 

According to Insider Monkey’s fourth quarter database, 58 hedge funds were bullish on Medtronic plc (NYSE:MDT), compared to 55 funds in the earlier quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the largest stakeholder of the company, with 5.35 million shares worth $416.2 million. 

Artisan Value Fund made the following comment about Medtronic plc (NYSE:MDT) in its Q4 2022 investor letter:

“We also added to our position in Medtronic plc (NYSE:MDT), taking advantage of attractive prices. While procedure volumes for Medtronic, a medical technology company, are close to their pre-COVID levels, professional staffing shortages, supply chain constraints and some raw materials shortages globally have held back the availability of procedures. These factors have caused its top line to contract. However, foreign exchange has also been a big headwind. Each of its segments has its own respective reasons for ebbs and flows over the past couple quarters, but generally results have been soft and slow to recover. We are being patient with our investment in Medtronic because the company continues to be a strong free cash flow generator and is attractively priced, with a FCF yield of 5.3% and a dividend yield of 3.4%. Medtronic is under new management that is focused on growing the company’s top line, reinvesting in R&D, returning cash to shareholders and growing operating profits. We like the new management’s strategy and believe new product launches, increased surgery visits, sound M&A transactions and a shareholder-returns focus should reinvigorate the business.”