For Medtronic plc [MDT], Analyst sees a rise to $141. What next?

Medtronic plc [NYSE: MDT] closed the trading session at $124.54 on 06/29/21. The day’s price range saw the stock hit a low of $123.80, while the highest price level was $124.68. The company report on June 29, 2021 that Medtronic Launches App-Based Study to Better Understand Relationship Between Atrial Fibrillation Disease Burden and Impact on Patient Outcomes.

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DEFINE AFib Study Will Leverage Data from Medtronic Insertable Cardiac Monitors and Medtronic Discovery App™ with the Goal of Informing Atrial Fibrillation (AF) Management Strategies.

– Medtronic plc (NYSE:MDT), the global leader in medical technology, announced the initiation of the DEFINE AFib study, the company’s first app-based research study. Using data collected from the LINQ family of insertable cardiac monitors (ICMs), the study aims to address unanswered questions around atrial fibrillation (AF) burden and its impact on patient outcomes, quality of life, and healthcare utilization. The first patients in the study were enrolled at Duke University Medical Center in Durham, N.C., by Jonathan Paul Piccini, M.D., MHS, FHRS, director of Cardiac Electrophysiology and associate professor of medicine at Duke University School of Medicine, and at Florida Electrophysiology Associates in Atlantis, Fla., by Robert S. Fishel, M.D., founder of the practice and director of Electrophysiology at JFK Medical Center.

The stocks have a year to date performance of 6.32 percent and weekly performance of -1.73 percent. The stock has been moved at 8.17 percent over the last six months. The stock has performed -1.62 percent around the most recent 30 days and changed 4.81 percent over the most recent 3-months.

If compared to the average trading volume of 4.64M shares, MDT reached to a volume of 3770868 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 $139.85 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.

Cowen have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 10, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on May 25, 2021, representing the official price target for Medtronic plc stock. Previously, the target price had yet another raise to $153, while Atlantic Equities analysts kept a Overweight rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 1.78, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 5.58. The Price to Book ratio for the last quarter was 3.30, with the Price to Cash per share for the same quarter was set at 10.85. Price to Free Cash Flow for MDT in the course of the last twelve months was 96.22 with Quick ratio for the last quarter at 1.70.

MDT stock trade performance evaluation

Medtronic plc [MDT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.73. With this latest performance, MDT shares dropped by -1.62% in over the last four-week period, additionally plugging by 8.17% over the last 6 months – not to mention a rise of 37.98% 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 48.50, with the RSI for the last a single of trading hit 48.23, and the three-weeks RSI is set at 49.17 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 126.32, while it was recorded at 124.76 for the last single week of trading, and 116.73 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 +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.

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

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%.

Medtronic plc [MDT]: Insider Ownership positions

There are presently around $135,187 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 $13.21 billion in MDT stocks shares; and STATE STREET CORP, currently with $6.77 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 1,003 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 50,735,502 shares. Additionally, 825 investors decreased positions by around 42,298,251 shares, while 244 investors held positions by with 999,474,077 shares. The mentioned changes placed institutional holdings at 1,092,507,830 shares, according to the latest SEC report filing. MDT stock had 123 new institutional investments in for a total of 3,481,523 shares, while 89 institutional investors sold positions of 2,539,631 shares during the same period.

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