Mizuho reiterates Medtronic stock rating on cardiac strength

Mizuho Financial Group maintained its stock rating for Medtronic plc in New York on May 15, 2023, citing the medical technology company's strong performance in cardiac device markets and positive long-term growth prospects in the cardiovascular sector. The Japanese financial institution reiterated its 'buy' recommendation for Medtronic shares, emphasizing the company's dominant position in pacemakers, cardiac rhythm management devices, and structural heart technologies. Medtronic, headquartered in Ireland with significant operations in the United States, has demonstrated resilience despite broader economic uncertainties in the healthcare sector. Analysts at Mizuho highlighted that Medtronic's cardiac division accounts for approximately 40% of the company's total revenue, with emerging markets showing particularly strong demand for advanced cardiovascular treatments. The reiteration comes as Medtronic prepares to launch several next-generation cardiac devices in the upcoming fiscal year, further solidifying its competitive advantage in this high-margin segment of the medical technology industry.