Medtronic Stock Rated Outperform as Renal Denervation and Spin-Off Drive Growth Potential

Medtronic, Inc. (NYSE:MDT) ranks among the top stocks for an early retirement portfolio. On June 18, RBC Capital reiterated a $101 price target and an Outperform rating on Medtronic, Inc. (NYSE:MDT), emphasizing the company’s renal denervation system as an undervalued market opportunity.

Medtronic Stock Rated Outperform as Renal Denervation and Spin-Off Drive Growth Potential

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The firm assessed the potential of Medtronic’s Symplicity Spyral renal denervation system, which treats hypertension, using a private survey with forty-four respondents. The survey results will be made public in advance of the crucial Centers for Medicare & Medicaid Services (CMS) National Coverage Determination, which is scheduled for July 11, 2025, at the latest.

Furthermore, Medtronic plc (NYSE:MDT) declared that it would spin off its diabetes division into a separate company named MiniMed. About 8% of Medtronic’s overall revenue comes from the diabetes segment, and the spin-off is anticipated to streamline operations.

A prominent name in medical technology, Medtronic plc (NYSE:MDT) focuses on the creation, production, and marketing of device-based therapeutics. With notable breakthroughs in spine and minimally invasive treatments, the company ranks as a leader in robotic-assisted surgery technology.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

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