Medtronic (MDT) Prepares for US Launch of HUGO Surgical Robot, Says Stifel

Medtronic plc (NYSE:MDT) ranks among the best medical device stocks to invest in. Following a tour of the company’s HUGO soft tissue surgical robotic facility in Boston, Stifel maintained its Hold rating on Medtronic plc (NYSE:MDT) and increased its price target from $90 to $105 on October 9. Stifel analysts met a number of Medtronic leaders, including Mike Marinaro, Executive Vice President and President of Medical Surgical Portfolio and Americas, during the facility tour.

The firm stated that Medtronic plc (NYSE:MDT) seems “confidently ready” from the standpoints of manufacturing, supply chain, and physician support to launch its HUGO robotic system in the US once the FDA’s expected approval of it by the end of fiscal 2026.

Medtronic plc (NYSE:MDT) intends to introduce HUGO with “a deliberate and thoughtful approach” after receiving the initial FDA approval in the US, Stifel noted.

A prominent name in medical technology, Medtronic plc (NYSE:MDT) focuses on the creation, production, and marketing of device-based therapeutics. With notable breakthroughs in spine and minimally invasive treatments, the company ranks as a leader in robotic-assisted surgery technology.

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Disclosure: None. This article is originally published at Insider Monkey.