Medtronic plc [MDT] gain 1.21% so far this year. What now?

Medtronic plc [NYSE: MDT] gained 1.70% on the last trading session, reaching $118.56 price per share at the time. The company report on March 26, 2021 that Medtronic Receives FDA Approval for “Breakthrough” Transcatheter Pulmonary Valve Replacement for Patients with Congenital Heart Disease.

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Harmony™ Transcatheter Pulmonary Valve is First Minimally Invasive Alternative for Patients with Severe Pulmonary Regurgitation Who Have a Native or Surgically-Repaired Right Ventricular Outflow Tract.

Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced it has received U.S. Food and Drug Administration (FDA) approval for its Harmony™ Transcatheter Pulmonary Valve (TPV), the first minimally invasive therapy created to treat patients with a specific type of congenital heart defect of the right ventricle (RV), one of the four chambers of the heart, which makes it difficult for blood to travel from the heart to the lungs. The Harmony TPV, which is placed inside a patient’s native anatomy during a catheter-based procedure, was designated as a Breakthrough Therapy under FDA’s Breakthrough Device Designation (BDD) program, an approval pathway intended to help patients receive more timely access to certain life-saving technologies.

Medtronic plc represents 1.35 billion in outstanding shares, while the company has a total market value of $157.16 billion with the latest information. MDT stock price has been found in the range of $116.01 to $118.81.

If compared to the average trading volume of 4.49M shares, MDT reached a trading volume of 5782946 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 $133.75 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 2.28, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 5.63. The Price to Book ratio for the last quarter was 3.14, with the Price to Cash per share for the same quarter was set at 11.04. Price to Free Cash Flow for MDT in the course of the last twelve months was 100.23 with Quick ratio for the last quarter at 1.70.

Trading performance analysis for MDT stock

Medtronic plc [MDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.66. With this latest performance, MDT shares gained by 0.58% in over the last four-week period, additionally plugging by 17.07% over the last 6 months – not to mention a rise of 28.95% 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 54.28, with the RSI for the last a single of trading hit 56.88, and the three-weeks RSI is set at 53.36 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 116.97, while it was recorded at 116.59 for the last single week of trading, and 107.79 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 1.70 and a Current Ratio set at 2.10.

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

With the latest financial reports released by the company, Medtronic plc posted 0.58/share EPS, while the average EPS was predicted by analysts to be reported at 0.68/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.70%. 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 9.08%.

An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $128,828 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 $12.7 billion in MDT stocks shares; and STATE STREET CORP, currently with $6.63 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 1,089 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 47,440,348 shares. Additionally, 750 investors decreased positions by around 48,180,097 shares, while 218 investors held positions by with 990,989,561 shares. The mentioned changes placed institutional holdings at 1,086,610,006 shares, according to the latest SEC report filing. MDT stock had 249 new institutional investments in for a total of 5,806,052 shares, while 86 institutional investors sold positions of 4,484,244 shares during the same period.

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