Here are five things to know:
1. Due to Medtronic's recent acquisitions — including purchasing Covidien and Smith & Nephew's gynecology business — the company is likely to cut costs and expand its surgical range. The Covidien acquisition allowed Medtronic to locate its headquarters overseas, which freed up $10 billion in overseas cash, according to the report.
2. Medtronic has made heavy investments in the robotic sector, particularly with Mazor Robotics' Mazor X system for spinal procedures. The company expects "substantial" revenue increases from the robotics by 2019.
3. The FDA approved Medtronic's MiniMed 670G for patients with Type 1 diabetes and sales are expected to explode. The company's pacemaker Medtronic Micra also received FDA clearance in April 2016, positioning the company to increase yearly revenue for the next five to 10 years.
4. Over the past 33 years, the company has increased payouts for dividends, with the current yield at 2.39 percent. The analysts are projecting 4.7 percent growth in the current quarter and 7.8 percent growth annually over the next five years.
5. Medtronic's price target is expected to hit $80 to $96 by the end of the year.
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