5 Largest Orthopedic Companies in the World

In this article, we will take a look at the 5 largest orthopedic companies in the world. If you want to see more companies in this selection, go to the 15 Largest Orthopedic Companies in the World.

5. Medtronic plc (NYSE:MDT)

2021 Orthopedic Revenue: $3.5 billion

Medtronic plc (NYSE:MDT) is a Minneapolis, Minnesota-based medical device company with a strong presence in the spinal and orthopedic segment.

The orthopedic and spine segment of the business has observed above-market growth rates for the last several years, increasing Medtronic plc’s (NYSE:MDT) market share in the industry. Analysts believe that Medtronic plc (NYSE:MDT) could spin off the division and separate it from weaker-performing segments to unlock its true value. The company has been considered a market leader in the industry since the launch of its first spine surgical robot nearly a decade ago. Medtronic plc (NYSE:MDT) has made acquisitions on the way to fasten the technological advancement in the robotic spine surgery segment.

Artisan Partners shared its outlook on Medtronic plc (NYSE:MDT) in its Q2 2022 investor letter. Here’s what the firm said:

“While Medtronic plc (NYSE:MDT)’s procedure volumes recovered to pre-COVID levels, foreign exchange headwinds overshadowed underlying business value growth, and supply chain issues, including those related to China’s lockdowns, impacted the surgical innovations business. The downdraft in the market during the quarter led to a pile-on. 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% on trailing one-year numbers and a dividend yield of 3%. 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 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. We added to our positions in these health care names during the quarter.”