Medtronic plc [NYSE: MDT] price plunged by -3.13 percent to reach at -$3.49. The company report on October 26, 2020 that Medtronic Venous Stent Receives U.S. FDA Approval to Treat Venous Outflow Obstruction.
Abre™ Venous Self-Expanding Stent System Safe, Effective in Treating Challenging Deep Venous Lesions.
Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced it has received U.S. Food and Drug Administration (FDA) approval for the Abre™ venous self-expanding stent system. This device is indicated for use in the iliofemoral veins in patients with symptomatic iliofemoral venous outflow obstruction, also known as deep venous obstruction.
A sum of 5757990 shares traded at recent session while its average daily volume was at 4.46M shares. Medtronic plc shares reached a high of $110.28 and dropped to a low of $106.43 until finishing in the latest session at $107.93.
The one-year MDT stock forecast points to a potential upside of 7.89. The average equity rating for MDT stock is currently 1.90, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Medtronic plc [MDT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MDT shares is $117.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MDT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 08, 2020. The new note on the price target was released on October 08, 2020, representing the official price target for Medtronic plc stock. Previously, the target price had yet another raise to $115, while Wolfe Research analysts kept a Peer Perform rating on MDT stock.
The Average True Range (ATR) for Medtronic plc is set at 2.73, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 5.21. The Price to Book ratio for the last quarter was 2.88, with the Price to Cash per share for the same quarter was set at 9.64. Price to Free Cash Flow for MDT in the course of the last twelve months was 80.55 with Quick ratio for the last quarter at 1.50.
MDT Stock Performance Analysis:
Medtronic plc [MDT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.51. With this latest performance, MDT shares gained by 4.62% in over the last four-week period, additionally plugging by 10.09% over the last 6 months – not to mention a rise of 2.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MDT stock in for the last two-week period is set at 51.37, with the RSI for the last a single of trading hit 49.30, and the three-weeks RSI is set at 53.77 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 105.56, while it was recorded at 109.91 for the last single week of trading, and 100.93 for the last 200 days.
Insight into Medtronic plc Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Medtronic plc [MDT] shares currently have an operating margin of +19.42 and a Gross Margin at +61.87. Medtronic plc’s Net Margin is presently recorded at +16.56.
Return on Total Capital for MDT is now 7.38, given the latest momentum, and Return on Invested Capital for the company is 6.47. Return on Equity for this stock inclined to 9.50, with Return on Assets sitting at 5.31. When it comes to the capital structure of this company, Medtronic plc [MDT] has a Total Debt to Total Equity ratio set at 50.74. Additionally, MDT Total Debt to Total Capital is recorded at 33.66, with Total Debt to Total Assets ending up at 28.38. Long-Term Debt to Equity for the company is recorded at 44.93, with the Long-Term Debt to Total Capital now at 29.81.
Reflecting on the efficiency of the workforce at the company, Medtronic plc [MDT] managed to generate an average of $53,211 per employee. Receivables Turnover for the company is 5.32 with a Total Asset Turnover recorded at a value of 0.32.Medtronic plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.90.
MDT Stock EPS
With the latest financial reports released by the company, Medtronic plc posted 1.31/share EPS, while the average EPS was predicted by analysts to be reported at 1.28/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MDT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Medtronic plc go to 9.41%.
Medtronic plc [MDT] Insider Position Details
There are presently around $118,772 million, or 83.80% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 113,112,650, which is approximately -3.926% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 111,209,886 shares of the stock with an approximate value of $12.0 billion in MDT stocks shares; and STATE STREET CORP, currently with $6.35 billion in MDT stock with ownership of nearly 0.973% of the company’s market capitalization.
Positions in Medtronic plc stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 903 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 59,012,258 shares. Additionally, 781 investors decreased positions by around 59,908,088 shares, while 199 investors held positions by with 981,529,472 shares. The mentioned changes placed institutional holdings at 1,100,449,818 shares, according to the latest SEC report filing. MDT stock had 137 new institutional investments in for a total of 10,124,457 shares, while 117 institutional investors sold positions of 3,331,444 shares during the same period.