I admit that predicting where the S&P 500 will land in the next six months is a bit like guessing the next flavor of the month at your local ice cream shop — exciting but wildly unpredictable.

However, history has shown us that over a decade, it's more like betting on the sun rising in the east — pretty darn reliable for those looking to fatten their wallets.

Now, I'm not suggesting you throw your hard-earned cash at just any company that pops up in your stock app. No sir, we’re here for the smart picks.

And who's on my radar today? None other than Medtronic (MDT).

Let’s talk about why this healthcare giant could be the golden goose of your investment portfolio for the next decade.

Imagine a company that’s pretty much the Swiss Army knife of the medical device world, simplifying the lives of patients in 150 countries and tackling over 70 health conditions. Sounds like a dream, right? That’s Medtronic for you.

Sadly, it hasn’t been all sunshine and rainbows for this medical device company. Recently, Medtronic's growth has been more sluggish than a snail on a leisurely stroll, with revenues dipping ever so slightly in the latest fiscal year.

Blame it on COVID-19, people dodging doctor visits, or supply chain snafus; the healthcare sector has been through the wringer.

But, just when you thought it was all doom and gloom, Medtronic surprises everyone with a 4.7% revenue bump in its latest quarter.

With new gizmos and gadgets rolling out and an aging population that’s only going to need more medical attention, Medtronic is poised for a comeback.

Looking at the company’s trajectory and portfolio, I’m inclined to agree with optimists singing tunes of a 5.9% compound annual growth rate for the global medical device market till the decade's end. Considering that Medtronic is positioned in front of this segment, it doesn’t take much convincing that this stock is set for growth in the next years.

That’s not all though. Medtronic is trimming the fat by saying sayonara to its ventilator business, embracing a leaner, meaner approach.

Specifically, it plans to merge the remaining gems of its patient monitoring and respiratory interventions segment into a dazzling new business unit: acute care and monitoring.

Ultimately, the goal is to beef up organic revenue growth and buff up those financials. As they gracefully exit stage left from the ventilator biz, any lingering revenue from these machines will play a cameo in the “other” section of its financials, starting next quarter.

And let’s talk numbers for additional context, because who doesn’t love a good success story?

Over the last three quarters, Medtronic has been strutting its stuff with earnings just north of $3 billion on a revenue runway of $23.8 billion, flaunting a profit margin of 12.6%.

Not too bad, right? Still, there’s room to grow those figures, and a beefier profit margin means a happier ending for investors, with the stock potentially hitting new highs.

Can Medtronic truly follow through with a growth story? Well, its history says yes.

Medtronic's revenue has ballooned by 88% over the last decade, a feat that's as impressive as fitting into your high school jeans.

A significant chunk of this growth spurt came from its $42.9 billion acquisition of Covidien in 2015, which did more than just add a few zeros to its balance sheet — it catapulted Medtronic’s product portfolio and European presence into the stratosphere.

After that, the company continued to expand through a series of mergers, acquisitions, and good old-fashioned organic growth.

Peering into the crystal ball, there’s a strong potential that Medtronic will keep the growth party going at a steady clip of 4% annually in the medium term.

Let’s also not forget about dividends. Medtronic is the kind of company that keeps the dividend party going, having increased its payout for an impressive 45 years. Despite a modest bump this year, the future looks bright for dividend lovers.

So, should you buy Medtronic stock?

If you’re in it for the long haul, Medtronic seems like it's gearing up for an exciting journey. With a leaner, meaner approach and a market ripe for the taking, Medtronic's future looks bright. I suggest you buy the dip.