Medtronic plc [MDT] stock Initiated by Atlantic Equities analyst, price target now $153

Medtronic plc [NYSE: MDT] surged by $1.03 during the normal trading session on Thursday and reaching a high of $127.28 during the day while it closed the day at $126.70. The company report on May 18, 2021 that Medtronic Evolut™ TAVR System Shows Strong Performance at Two Years in Low Risk Trial.

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EuroPCR: Low Risk Study Demonstrates Hemodynamic Advantages of Evolut™ Transcatheter Aortic Valve Replacement (TAVR) System Over Open Heart Surgery Out to Two Years.

Medtronic plc (NYSE:MDT), the global leader in medical technology, announced the complete two-year outcomes from the landmark Evolut Low Risk Trial comparing the minimally invasive Evolut™ transcatheter aortic valve replacement (TAVR) system to the gold standard of open-heart surgery in characteristically younger, healthier aortic stenosis patients. Presented virtually as a late-breaking clinical trial at the EuroPCR 2021 e-Course, results showed the Evolut TAVR platform was non inferior to surgery for the primary endpoint of all-cause mortality or disabling stroke at two years (4.3% for TAVR versus 6.3% for surgery; p< 0.0001 for non-inferiority), and trended the same or lower on all critical events, confirming the earlier Bayesian statistical analysis presented at the American College of Cardiology (ACC) 68th Annual Scientific Session in 2019. Medtronic plc stock has also gained 2.02% of its value over the past 7 days. However, MDT stock has inclined by 11.80% in the 3 months of the year. Over the past six months meanwhile, it has gained 15.04% and gained 8.16% year-on date. The market cap for MDT stock reached $169.33 billion, with 1.35 billion shares outstanding and 1.35 billion shares in the current float. Compared to the average trading volume of 4.65M shares, MDT reached a trading volume of 3375709 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $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 1.82, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 6.06. The Price to Book ratio for the last quarter was 3.36, with the Price to Cash per share for the same quarter was set at 10.95. Price to Free Cash Flow for MDT in the course of the last twelve months was 107.99 with Quick ratio for the last quarter at 1.70.

MDT stock trade performance evaluation

Medtronic plc [MDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.02. With this latest performance, MDT shares dropped by -2.73% in over the last four-week period, additionally plugging by 15.04% over the last 6 months – not to mention a rise of 29.18% 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 53.51, with the RSI for the last a single of trading hit 53.08, and the three-weeks RSI is set at 54.82 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 123.61, while it was recorded at 125.80 for the last single week of trading, and 113.76 for the last 200 days.

Medtronic plc [MDT]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Medtronic plc [MDT] stock

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 Ownership positions

There are presently around $138,411 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 111,062,164, which is approximately -0.201% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 106,754,630 shares of the stock with an approximate value of $13.53 billion in MDT stocks shares; and STATE STREET CORP, currently with $6.93 billion in MDT stock with ownership of nearly -2.174% 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 1,004 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 50,762,572 shares. Additionally, 819 investors decreased positions by around 42,317,720 shares, while 246 investors held positions by with 999,350,799 shares. The mentioned changes placed institutional holdings at 1,092,431,091 shares, according to the latest SEC report filing. MDT stock had 128 new institutional investments in for a total of 3,516,655 shares, while 91 institutional investors sold positions of 6,796,107 shares during the same period.

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