Atlantic Equities slashes price target on Medtronic plc [MDT] – find out why.

Medtronic plc [NYSE: MDT] stock went on a downward path that fall over -2.06% on Tuesday, amounting to a one-week price decrease of less than -1.13%. The company report on May 3, 2021 that Medtronic Announces CE Mark of Evolut™ PRO+ TAVI System for Treatment of Symptomatic Severe Aortic Stenosis Patients in Europe.

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As TAVI Patient Population Grows, PRO+ TAVI System Launches with Four Valve Sizes and Lowest Delivery Profile.

– Medtronic plc (NYSE: MDT), the global leader in medical technology, announced CE (Conformité Européenne) Mark of the Evolut™ PRO+ TAVI System – the newest-generation Medtronic TAVI system that builds off the proven self-expanding, supra-annular Evolut TAVI platform. The Evolut PRO+ TAVI System includes four valve sizes with an external pericardial tissue wrap that provides advanced sealing for the largest annular range (for self-expanding TAVI technology) on the market. The approval follows a recent indication expansion for the Evolut platform in Europe for patients with severe aortic stenosis who are at a low risk of surgical mortality and patients with bicuspid aortic valves who are at intermediate, high and extreme risk of surgical mortality.

Over the last 12 months, MDT stock rose by 34.89%. The one-year Medtronic plc stock forecast points to a potential upside of 4.33. The average equity rating for MDT stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $174.00 billion, with 1.35 billion shares outstanding and 1.35 billion shares in the current float. Compared to the average trading volume of 4.73M shares, MDT stock reached a trading volume of 6658997 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $134.31 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.

Atlantic Equities have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 15, 2021. 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 from $100 to $119, while Goldman kept a Neutral rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 1.85, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 6.23. The Price to Book ratio for the last quarter was 3.41, with the Price to Cash per share for the same quarter was set at 10.81. Price to Free Cash Flow for MDT in the course of the last twelve months was 110.97 with Quick ratio for the last quarter at 1.70.

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 -1.13. With this latest performance, MDT shares gained by 6.86% in over the last four-week period, additionally plugging by 27.77% over the last 6 months – not to mention a rise of 34.89% 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 59.24, with the RSI for the last a single of trading hit 52.69, and the three-weeks RSI is set at 60.79 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 121.65, while it was recorded at 130.66 for the last single week of trading, and 112.02 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 1.70 and a Current Ratio set at 2.10.

MDT Stock EPS

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%.

Medtronic plc [MDT] Insider Position Details

There are presently around $142,149 million, or 83.30% 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 $14.05 billion in MDT stocks shares; and STATE STREET CORP, currently with $7.34 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 May and at the time of the May reporting period, where 1,041 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 47,538,883 shares. Additionally, 785 investors decreased positions by around 50,180,689 shares, while 217 investors held positions by with 985,733,840 shares. The mentioned changes placed institutional holdings at 1,083,453,412 shares, according to the latest SEC report filing. MDT stock had 184 new institutional investments in for a total of 5,127,422 shares, while 92 institutional investors sold positions of 7,020,633 shares during the same period.

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