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Medtronic PLC - Stock Quote MDT

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Morningstar's Medtronic PLC Stock Analysis

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Medtronic's Q3 Results Hold No Surprises, but Fiscal 2023 Outlook Tempered; FVE Unchanged

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

Medtronic posted fiscal 2022 third-quarter results that held no surprises, and we’re leaving our fair value estimate intact as the firm is on track to meet our full-year estimates. We made slight downward adjustments on our projections for fiscal 2023 following measured comments by management about expected headwinds, including foreign currency, higher-than-normal inflation, and the impending acquisition of Affera. Nonetheless, since we value the company over two decades to reflect its wide economic moat, these tweaks to next year were immaterial to our valuation. With Medtronic's shares currently trading at a 22% discount to our intrinsic value and its dividend yield pushing up to 2.5%, we think conditions are attractive for long-term investors.

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Medtronic PLC's Company Profile

Business Description

One of the largest medical device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for almost 50% of the company's total sales.

Lower Hatch Street, 20 On Hatch
Dublin, 2, Ireland
T +353 14381700
Sector Healthcare
Industry Medical Devices
Most Recent Earnings Jan 31, 2022
Fiscal Year End Apr 30, 2022
Stock Type
Employees 90,000

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