Billionaire Israel Englander’s Top 10 Stock Picks Heading Into 2025

8. Medtronic plc (NYSE:MDT)

Millennium Management’s Stake Value: $559.76 Million

Number of Hedge Fund Holders: 60

Medtronic plc (NYSE:MDT) is a healthcare company that develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. It offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices. While the stock was down by about 4% in 2024, it remains one of billionaire Israel Englander’s top stock picks.

It is one of the companies well poised to benefit from declining interest rates. This is because hospitals and businesses that purchase Medtronic plc’s (NYSE:MDT) devices can finance them more affordably as rates fall. That may contribute to a slight acceleration of its growth rate.

Medtronic has been growing, even though its single-digit growth may not give the impression that it is a growing company. It has also received about 130 product approvals in numerous important markets in the last 12 months alone. The company also has a wide range of products in its portfolio, including continuous glucose monitoring devices, neurostimulators, and catheters. It also regularly releases new devices.

In addition, the company maintains operations in more than 150 countries and is backed by products that treat over 70 health conditions. Consequently, Medtronic plc (NYSE:MDT) is well-positioned to grow and generate more shareholder value by bringing better and more efficient products to the market. Likewise, the company should continue to excite income-focused investors with its 3.20% dividend yield.

Matrix Asset Advisors stated the following regarding Medtronic plc (NYSE:MDT) in its Q3 2024 investor letter:

“In Q3, we added to two Healthcare positions, Medtronic plc (NYSE:MDT) and Becton Dickinson (BD). Both companies are very attractive in our valuation analysis. We started the LCV position in MDT in the second quarter and added to it as more cash became available. The company’s business results have improved this year as the number of medical procedures normalized from their decline during the pandemic. “