Forecast Of The Day: Medtronic Surgical Innovations Revenue
What?
Trefis expects Medtronic’s (NYSE:MDT) Surgical Innovations revenue – which includes surgical stapling devices, vessel sealing instruments, wound closure, and related products – to remain roughly flat at around $5.5 billion between 2020 and 2021 and rise to around $5.9 billion in 2022.
Why?
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While the spread of Covid-19 has reduced doctors visits and elective surgical procedures impacting sales of surgical products, we expect revenue to recover from next year.
So What?
MDT stock has underperformed year-to-date, rising by just about 10%, compared to the S&P 500 which is up 17%. However, we think the stock is undervalued, with our price estimate standing at $148 per share, about 15% ahead of the current market price.
See Our Complete Analysis For Medtronic
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