MDT stock price recently broke above a key trendline, suggesting renewed buying interest. The broader medical technology market is projected to grow at 5% CAGR through 2026, favoring Medtronic’s expansion strategy. In summary, income-focused investors may find Medtronic stock an attractive option for making a steady income of $100 per month by owning 423 shares of stock. There may be more upside to come as investors benefit from the company's consistent dividend hikes. Medtronic has raised its dividend consecutively for the last 48 years. For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40). MDT stock price is benefitting from strong fundamentals, including consistent free cash flow generation. Industry experts point to Medtronic’s increased R&D spend in robotic-assisted surgery as a driver for future valuation gains.