J.P. Morgan analyst Robbie Marcus has maintained their neutral stance on MDT stock, giving a Hold rating yesterday.
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Robbie Marcus’s rating is based on a combination of factors influencing Medtronic’s current market position. The proposed national coverage decision for renal denervation is a positive development for Medtronic, as it opens up a significant market opportunity. However, there are several challenges that the company must overcome, including educating healthcare providers about the procedure, addressing the mixed clinical results associated with it, and ensuring its inclusion in U.S. medical guidelines.
Despite the potential upside, the initial market penetration is expected to be limited, with incremental sales projected to add only a modest percentage to Medtronic’s growth. This cautious outlook reflects the need for Medtronic to navigate these hurdles effectively before realizing substantial financial benefits. As a result, Robbie Marcus has opted for a Hold rating, suggesting that while there is potential for growth, it is tempered by the uncertainties and challenges that lie ahead.
According to TipRanks, Marcus is a 4-star analyst with an average return of 9.1% and a 53.75% success rate. Marcus covers the Healthcare sector, focusing on stocks such as Medtronic, Abbott Laboratories, and Baxter International.