BUZZ-Street View: Medtronic's product pipeline to aid growth in 2025 and beyond

Reuters11-20

** Medtronic on Tuesday lifted the lower end of its annual profit forecast for a second time, banking on sustained demand for its medical devices in the United States

NEAR-TERM MARGINS REMAIN PRESSURED

** Needham ("hold") expects growing commercial availability of Affera Sphere-9 to become a more significant growth driver for co in FY25 and FY26

** BofA Global Research ("buy", PO: $100) says PulseSelect to remain the growth driver in FY25 despite recent disruptions

** RBC ("outperform", PT: $105) remains confident in MDT's business fundamentals and ability to execute against a backdrop of positive healthcare utilization trends

** BTIG ("neutral") notes beyond FY25, "MDT is likely to benefit from increased product innovation but this comes at a cost in product mix and a potential drag on margins"

** Piper Sandler ("neutral", PT: $90) sees minimal impact from ongoing and upcoming product launches on MDT's top-line; says margin ramp in the latter half of the year looks steep

(Reporting by Kanchana Chakravarty in Bengaluru)

((Kanchana.Chakravarty@thomsonreuters.com))

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