10 Trending AI Health Stocks

6. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 52     

Medtronic plc (NYSE:MDT), a global leader in medical devices, is utilizing AI in robotic surgery and patient monitoring systems. The company’s Hugo robotic-assisted surgery system and AI-driven monitoring solutions are designed to enhance procedural efficiency and improve patient outcomes. By integrating AI, Medtronic has expanded the capabilities of its products, particularly in minimally invasive surgeries and remote patient monitoring.

Medtronic’s AI initiatives have bolstered its financial performance. In Q3 of FY24, Medtronic plc (NYSE:MDT) posted $8.1 billion in revenue, reflecting a 4.7% growth from the same period in FY23. The company’s GAAP net income grew by 8%, reaching $1.322 billion, underscoring the financial benefits of incorporating AI into its product line. As healthcare facilities demand more advanced AI-powered tools, Medtronic continues to see increased adoption of its AI-enhanced medical devices, contributing to its growth.