Survey on RDN Procedure Volumes Fuels Optimism for Medtronic (MDT)

Medtronic plc (NYSE:MDT) is one of the 12 best Medical Devices stocks to invest in according to Hedge Funds.

As of January 28 closing, sentiment for Medtronic plc (NYSE:MDT) was moderately bullish. The stock had been covered by 19 analysts, who issued 10 Buy ratings and 9 Hold ratings. It carried a median 1-year price target of $111.63, resulting in almost 11% upside potential from the current level.

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Back on January 5, Piper Sandler maintained a Neutral rating for Medtronic plc (NYSE:MDT), with a price target of $105. The rating came after the firm carried out a survey of 25 physicians to analyze renal denervation (RDN) procedure volumes and expected device usage in the future.

Survey results indicated that the average expected volumes per physician for 2026 are below Piper Sandler’s expectations. Hence, the firm currently has a cautious forecast regarding RDN-linked growth potential for the business, which it expects will drive the topline by only an incremental 30 basis points.

Medtronic plc (NYSE:MDT) is a healthcare technology company that develops and sells medical devices and therapies. It covers more than 70 chronic diseases and sells therapies to healthcare networks, clinicians, and physicians, as well as directly to patients. The business operates with four segments, i.e., Cardiovascular, Diabetes, Medical-Surgical, and Neuroscience.

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Disclosure: None. This article is originally published at Insider Monkey.