#5 - Medtronic (NYSE:MDT)
Next on this list of AI stocks to buy is Medtronic plc (NYSE: MDT). The company uses AI and machine learning in its robotic-assisted surgery platforms, its coloscopy and endoscopy systems, and insulin pumps. The company also has launched the only FDA-cleared “smart” insulin pen that integrates glucose sensor data.
But the last two years have been anything but a smooth ride for investors. The stock climbed nearly 80% from the onset of the pandemic to August 2021. But it’s down 22% in the last 12 months. MDT stock has a P/E ratio of around 24x, which is in line with the sector average, but its revenue and earnings projection are in the single digits for the next five years.
However, an investment in MDT stock comes with an attractive dividend with a yield of 3.42% and has been increasing for 46 consecutive years.
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
- $81.28
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 4 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $94.91 (16.8% Upside)
