10 Stocks That Will Change the World

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12. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders In Q1 2024: 54

Medtronic plc (NYSE:MDT) is a medical devices manufacturer based in Ireland. The shares are down by a modest 2.3% over the past year, as they are helped by the fact that Medtronic plc (NYSE:MDT) is one of the biggest medical devices companies in the world. This offers the firm stability in the face of any headwinds. However, the stock is unlikely to change the world since it does not operate in any of today’s hottest industries. In fact, a portion of its weak share price performance is reflected by investor worries on the demand for Medtronic plc (NYSE:MDT)’s products in the wake of GLP-1 weight loss drugs becoming popular. The market is worried that a healthier population with a low incidence of diabetes and other diseases could lower the demand for Medtronic plc (NYSE:MDT)’s products. The firm has a fortress balance sheet though, with $8 billion in cash on hand.

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