10 Slow and Steady Stocks to Own in Any Market - 7 of 10

#7 - Medtronic PLC (NYSE:MDT)

Medtronic PLC (NYSE: MDT) - One way to look for companies that should provide slow and steady growth is to look at the sectors where demand for their products and services will be high. Such is the case for Medtronic which specializes in medical equipment devices that figures to see continued revenue growth that coincides with an aging population. Although over half of the company’s revenues come from the United States, they have a growing international presence, most notably in Western Europe and Japan. One of the key strategic advantages the company enjoys is the barriers to entry for competitors based on the highly regulated nature of its market. In addition to an expectation of future revenue growth, investors have come to expect solid dividend performance from Medtronic. The company is a dividend aristocrat, upping its dividend for 40 consecutive years, most recently they raised their dividend 7% in 2017 bringing their annual compounded dividend to 16.4% annually over a 20-year period.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software. Read More 

Current Price

$79.50

Consensus Rating

Hold

Ratings Breakdown

6 Buy Ratings, 4 Hold Ratings, 1 Sell Ratings.

Consensus Price Target

$94.91 (19.4% Upside)