Based in Minneapolis, Minnesota, Medtronic PLC (MDT) develops, manufactures and markets device-based medical therapies to healthcare systems, physicians, clinicians and patients around the world. Its market capitalization is $119.1 billion, and Medtronic is operated through the Cardiovascular, Medical Surgery, Neuroscience and Diabetes segment.
Companies worth more than $10 billion are commonly referred to as “large caps.” Medtronic fits that category, with market capitalization exceeding this threshold, reflecting a significant scale, influence and advantage in the medical device industry. Medtronic innovates solutions to treat over 70 health conditions, from Parkinson's disease to diabetes.
MDT touched on a three-year high of $96.25 on March 10th, and the stock is currently 3% below its peak. Meanwhile, MDT shares have risen 11.5% over the past three months, surpassing the 3.7% increase in Healthcare Select Sector SPDR Fund (XLV) especially over the same time frame.
Medtronic outperforms the broader health sector in the long run. MDT's stock price has skyrocketed 16.8% on a YTD basis, up 5.4% over the past 52 weeks, surpassing the limit DIP of XLV in 2025, and plunging 12.5% over the past year.
To confirm the recent bullish trend, MDT has nearly surpassed its 50-day moving average since early June and has been trading above its 200-day moving average since early July.
Despite reporting better than expected, Medtronic shares fell 3.1% after the first quarter results were announced on August 19th. All segments and regions observed solid organic growth during the quarter. The company's overall topline for the quarter was $8.5 billion, up 6.7% year-on-year, exceeding expectations, particularly on the streets.
Meanwhile, Medtronic has shrunk slightly in gross profits, bringing EPS growth of 2.4% to $1.26. However, this figure surpassed the consensus estimate by 2.4%. Following the initial DIP, MDT's stock price rose 3.7% in subsequent trading sessions.
Compared to peers, MDT outperformed Stryker Corporation (Syk) 8.3% profit on a YTD basis, but has lagged behind Syk's 8.2% return over the past year.
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