5 Medical Device Stocks for 2021

1. Medtronic plc (NYSE: MDT)

Number of Hedge Fund Holders: 65

Medtronic plc (NYSE: MDT) is a medical device and healthcare company selling device-based medical therapies to hospitals, doctors, physicians, and patients across the globe. The company ranks 1st on our list of medical device stocks for 2021.

On June 21st, Medtronic plc (NYSE: MDT) received FDA expanded approval for the Arctic Front cardiac cryoablation catheters, resulting in the stock gaining. Piper Sandler analyst Matt O’Brien has since commented that they are positive on Medtronic plc (NYSE: MDT) shares because of the momentum from the cardiovascular business. In the first quarter of 2021, the company’s EPS was valued at $0.62 versus estimates of $0.18, and its revenue was valued at $6.51 billion, representing a 4.16% growth year over year. Medtronic plc (NYSE: MDT) has a gross profit margin of 65.67% and has gained 11.23% in the past 6 months and 9.23% year to date. It has a consensus Buy rating.

By the end of the first quarter of 2021, 65 hedge funds out of the 866 tracked by Insider Monkey held stakes in Medtronic plc (NYSE: MDT), with a total stake value of roughly $3.63 billion. This is compared to 59 hedge fund holders in the previous quarter, with stakes valued at about $2.81 billion.

You can also take a peek at 20 Biggest Healthcare Companies By Revenue and 10 Best Healthcare Dividend Stocks.

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