Preview of Medtronic, Inc. (MDT) Surgical Robot Event - Morgan Stanley

Morgan Stanley analyst David Lewis reiterated an Equalweight rating and $111.00 price target on Medtronic, Inc. (NYSE: MDT) ahead of its surgical robot experience event on September 24th. This is expected to shed light on one of the most notable pipeline drivers for the company and may offer important derivative significance for Intuitive Surgical. The company is expected to showcase a pedestal-based system which as historically been considered inferior to the single tower style of Intuitive's system, however it is possible that maneuverability compared with prior systems has been improved.

The analyst stated "While it is clear that Medtronic plans to commercialize a robot in at least one Ex-US geography in late FY20, everything else is vague. We do expect a global regulatory update at the Investor Day which likely focuses more on submission timelines than approval dates. Given medical device regulation (MDR) in Europe, for example, we see a lower likelihood for a European launch in 2FH20, but we expect updates on submission timelines here".

For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.

Shares of Medtronic, Inc. closed at $110.60 yesterday.

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