Stifel Nicolaus analyst Rick Wise has maintained their neutral stance on MDT stock, giving a Hold rating yesterday.
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Rick Wise’s rating is based on a combination of factors surrounding Medtronic’s recent developments and market positioning. The FDA approval for Medtronic’s HUGO robotic-assisted surgery system for urologic procedures marks a significant milestone, allowing the company to enter the lucrative U.S. market. However, the initial rollout of the HUGO system is expected to be cautious and gradual, as the company awaits broader clinical labeling and a more comprehensive instrumentation suite to accelerate its deployment.
While this approval is a positive step, Medtronic has not yet provided specific financial projections related to HUGO’s market introduction. The potential for incremental revenue is promising, but the full impact remains uncertain until further approvals for additional procedures and features are secured. These factors contribute to a balanced outlook, leading to the Hold rating as the company navigates these early stages of its U.S. market entry with HUGO.
Wise covers the Healthcare sector, focusing on stocks such as Masimo, Zimmer Biomet Holdings, and Medtronic. According to TipRanks, Wise has an average return of -0.3% and a 50.60% success rate on recommended stocks.