Medtronic (MDT) is currently down about 40% from its 2021 high. They've been dealing with rising costs and slower growth, which pushed their valuation ratios below their 5-year averages. The dividend yield is up to 3.7%, and they are two years away from being a Dividend King with 48 consecutive annual increases. Management has spent the last few years streamlining the business, and the turnaround seems to be wrapping up. A major growth driver going forward is their Hugo surgical robot. They are positioning it to compete with Intuitive Surgical (ISRG) and its da Vinci system. For comparison, ISRG trades at a 52x P/E ratio, while MDT is sitting at 21x. MDT is more diversified and probably won't see ISRG-level growth, but the current valuation and high yield make it an interesting long-term option right now.