Market Analysts see Medtronic plc [MDT] gaining to $145. Time to buy?

Medtronic plc [NYSE: MDT] gained 1.15% or 1.44 points to close at $126.59 with a heavy trading volume of 5525123 shares. The company report on May 28, 2021 that Titan Medical Receives License Fee of $10 Million Upon Achievement of Milestone Under Medtronic Development Agreement.

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Completion of Second Technical Milestone Marks Third Achievement Under Development and License Agreement.

Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical device company focused on the design and development of surgical technologies for robotic single access surgery, announced that it has completed the second technical milestone under the development and license agreement with Medtronic plc (NYSE: MDT), and received a U.S. $10 million payment for licensing the developed technologies to Medtronic.

It opened the trading session at $126.65, the shares rose to $128.045 and dropped to $126.37, the range by which the price of stock traded the whole day. The daily chart for MDT points out that the company has recorded 11.72% gains over the past six months. However, it is still -44.38% lower than its most recent low trading price.

If we look at the average trading volume of 4.63M shares, MDT reached to a volume of 5525123 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 $135.11 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 2.00. 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.

Barclays have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on May 25, 2021. While these analysts kept the previous recommendation, Atlantic Equities raised their target price to Overweight. The new note on the price target was released on April 15, 2021, representing the official price target for Medtronic plc stock. Previously, the target price had yet another raise to $140, while Morgan Stanley analysts kept a Overweight rating on MDT stock. On December 15, 2020, analysts increased their price target for MDT shares from 100 to 119.

The Average True Range (ATR) for Medtronic plc is set at 2.02, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 5.60. 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 10.98. Price to Free Cash Flow for MDT in the course of the last twelve months was 96.57 with Quick ratio for the last quarter at 1.70.

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 -0.55. With this latest performance, MDT shares dropped by -3.73% in over the last four-week period, additionally plugging by 11.72% over the last 6 months – not to mention a rise of 28.41% 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 51.38, with the RSI for the last a single of trading hit 50.21, and the three-weeks RSI is set at 52.93 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 124.60, while it was recorded at 126.90 for the last single week of trading, and 114.58 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 +17.30 and a Gross Margin at +59.27. Medtronic plc’s Net Margin is presently recorded at +11.97.

Return on Total Capital for MDT is now 6.74, given the latest momentum, and Return on Invested Capital for the company is 4.77. Return on Equity for this stock inclined to 7.06, with Return on Assets sitting at 3.92. When it comes to the capital structure of this company, Medtronic plc [MDT] has a Total Debt to Total Equity ratio set at 51.31. Additionally, MDT Total Debt to Total Capital is recorded at 33.91, with Total Debt to Total Assets ending up at 28.35. Long-Term Debt to Equity for the company is recorded at 51.29, with the Long-Term Debt to Total Capital now at 33.90.

Receivables Turnover for the company is 5.96 with a Total Asset Turnover recorded at a value of 0.33.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 0.62/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 244.40%. 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 10.94%.

An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $138,306 million, or 83.70% 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 $13.51 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 1,009 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 50,785,307 shares. Additionally, 816 investors decreased positions by around 42,246,087 shares, while 245 investors held positions by with 999,522,274 shares. The mentioned changes placed institutional holdings at 1,092,553,668 shares, according to the latest SEC report filing. MDT stock had 125 new institutional investments in for a total of 3,523,208 shares, while 89 institutional investors sold positions of 2,539,631 shares during the same period.

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