Published on 6 May 2022 on Zacks via Yahoo Finance
Medtronic plc MDT is gaining from the launch of globally-accepted advanced therapies. However, unfavorable currency movement and global economic uncertainties continue to affect Medtronic. The stock currently carries a Zacks Rank #3 (Hold).
Over the past year, Medtronic has outperformed the industry. The stock has declined 17.8% compared with the industry’s 23% decline.
Medtronic registered organic growth in the Cardiovascular, Neuroscience and Diabetes segments in the third quarter of fiscal 2022. Within Cardiovascular, cardiac rhythm management, one of Medtronic’s largest businesses, continued to build on the company’s category leadership, adding over 1.5 points of share. In the medical surgical portfolio, the company gained share in GI, driven by momentum from the recently launched Emprint HP Generator and Beacon endoscopic ultrasound franchise.