Medtronic plc [MDT] Revenue clocked in at $27.87 billion, down -1.49% YTD: What’s Next?

Medtronic plc [NYSE: MDT] loss -2.34% or -2.77 points to close at $115.39 with a heavy trading volume of 6020542 shares. The company report on February 18, 2021 that Transport Canada fines two individuals for presenting falsified COVID-19 test results.

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The Government of Canada continues to implement a multi-layered framework of measures to protect Canadians from COVID-19, and help prevent air travel from being a source for the spread of the virus. Pre-departure testing of air travellers is a key component of the Government of Canada’s efforts to protect the health and safety of Canadians.

Following a comprehensive investigation, Transport Canada has issued fines to two individual passengers for $10,000 and $7,000 respectively, for presenting a false or misleading COVID-19 test and for making a false declaration about their health status. In both cases, the individuals knowingly boarded a flight to Canada from Mexico on January 23, 2021, after having tested positive for COVID-19 only a few days before their flight.

It opened the trading session at $117.22, the shares rose to $117.74 and dropped to $115.25, the range by which the price of stock traded the whole day. The daily chart for MDT points out that the company has recorded 13.62% gains over the past six months. However, it is still -59.98% lower than its most recent low trading price.

If we look at the average trading volume of 4.23M shares, MDT reached to a volume of 6020542 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $129.29 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.

Morgan Stanley have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 15, 2020. While these analysts kept the previous recommendation, Goldman raised their target price from $100 to $119. The new note on the price target was released on December 15, 2020, representing the official price target for Medtronic plc stock. Previously, the target price had yet another raise to $125, while Stifel analysts kept a Buy rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 2.32, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 5.53. The Price to Book ratio for the last quarter was 3.09, with the Price to Cash per share for the same quarter was set at 10.70. Price to Free Cash Flow for MDT in the course of the last twelve months was 88.15 with Quick ratio for the last quarter at 1.80.

Trading performance analysis for MDT stock

Medtronic plc [MDT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.75. With this latest performance, MDT shares dropped by -2.47% in over the last four-week period, additionally plugging by 13.62% over the last 6 months – not to mention a rise of 1.42% 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 46.69, with the RSI for the last a single of trading hit 42.89, and the three-weeks RSI is set at 48.78 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 115.94, while it was recorded at 118.34 for the last single week of trading, and 105.18 for the last 200 days.

Medtronic plc [MDT]: A deeper dive into fundamental analysis

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 1.80 and a Current Ratio set at 2.20.

Medtronic plc [MDT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Medtronic plc posted 1.44/share EPS, while the average EPS was predicted by analysts to be reported at 1.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.30%. 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 10.33%.

An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $123,592 million, or 83.20% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 111,286,018, which is approximately -0.527% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 107,107,760 shares of the stock with an approximate value of $12.36 billion in MDT stocks shares; and STATE STREET CORP, currently with $6.45 billion in MDT stock with ownership of nearly -3.552% of the company’s market capitalization.

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Positions in Medtronic plc stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 1,064 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 46,997,761 shares. Additionally, 745 investors decreased positions by around 48,740,888 shares, while 220 investors held positions by with 975,344,923 shares. The mentioned changes placed institutional holdings at 1,071,083,572 shares, according to the latest SEC report filing. MDT stock had 227 new institutional investments in for a total of 5,586,934 shares, while 87 institutional investors sold positions of 4,468,292 shares during the same period.

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