Medtronic's (NYSE:MDT) the largest pure medical device maker in the world, but even this health care giant's sales growth has fallen off the pace recently. The company's revenue grew by just 2% year-over-year in its most recent quarter, and some of its largest businesses -- such as its defibrillation and spine segments -- have actually seen sales fall. Falling prices have hurt sales growth across the entire medical device industry, but tough competition has also crept up on Medtronic across its many businesses.

The company could use a dose of good news, and investors got some earlier this week. Medtronic received approval from the Food and Drug Administration for two new indications for one of its promising endovascular stents, the Complete. Medtronic's a top player in both the peripheral and coronary stent industries, but can these latest approvals help this firm stay atop its rivals in the space?

In the video below, Fool contributor Dan Carroll tells you what you need to know about Medtronic's latest green lights and how the company's stent business is setting up for investors' future.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool owns shares of Medtronic. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.