Medtronic’s (NYSE: MDT) share price is down significantly from its peak in 2021, providing investors a deep-value opportunity. The stock price is down because of the post-COVID correction and headwinds leading to sluggish growth, which are factors that will not last forever. What will remain is Medtronic’s operational quality and ability to sustain distribution growth.
Tepid or not, growth is growth, and that is critical for a Dividend Aristocrat such as this. With growth in the forecast, the capital return outlook is as rosy as ever, and so is the technical outlook for the stock price. The stock price bottomed in 2023 and is now amid a reversal that will likely take its stock price back to record levels.
