Medtronic plc [MDT] Revenue clocked in at $31.60 billion, down -9.96% YTD: What’s Next?

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Medtronic plc [NYSE: MDT] loss -1.15% on the last trading session, reaching $105.47 price per share at the time. The company report on December 1, 2021 that Cloud DX selected by Medtronic for national collaboration.

Medtronic selected Cloud DX for virtual and remote patient monitoring (RPM) solutions in exclusive corporate agreement.


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Cloud DX (TSXV: CDX) (OTCQB: CDXFF) has been selected by Medtronic Canada ULC, a subsidiary of Medtronic plc (NYSE: MDT), a global leader in healthcare technology, to provide world-class virtual healthcare to patients across Canada. This partnership advances Medtronic’s commitment to improving patient outcomes and lowering overall costs along the care continuum. Cloud DX’s remote patient monitoring (RPM) technology and services are exclusive to Medtronic and its Canadian client base, which is spread across Canada. Medtronic Canada delivers care in a broad range of clinical areas, including spinal and cardiac surgeries, cardiology, critical care, diabetes, vascular and renal care. Most clinical areas are expected to improve patient outcomes and satisfaction with some aspect of virtual care in the future. Initially, Medtronic seeks to integrate the Connected HealthTM platform and associated services within both perioperative and complex chronic disease pathways in Canada.

If compared to the average trading volume of 4.81M shares, MDT reached a trading volume of 8117408 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 $145.20 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 2.62, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 4.51. The Price to Book ratio for the last quarter was 2.75, with the Price to Cash per share for the same quarter was set at 7.84. Price to Free Cash Flow for MDT in the course of the last twelve months was 53.43 with Quick ratio for the last quarter at 2.30.

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 -6.98. With this latest performance, MDT shares dropped by -12.28% in over the last four-week period, additionally sinking by -14.30% over the last 6 months – not to mention a drop of -5.95% 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 17.76, with the RSI for the last a single of trading hit 11.80, and the three-weeks RSI is set at 22.98 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 121.49, while it was recorded at 109.59 for the last single week of trading, and 124.48 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 +18.38 and a Gross Margin at +59.70. Medtronic plc’s Net Margin is presently recorded at +11.97.

Return on Total Capital for MDT is now 7.11, given the latest momentum, and Return on Invested Capital for the company is 4.74. 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 53.29. Additionally, MDT Total Debt to Total Capital is recorded at 34.76, with Total Debt to Total Assets ending up at 29.44. Long-Term Debt to Equity for the company is recorded at 52.90, with the Long-Term Debt to Total Capital now at 34.51.

Reflecting on the efficiency of the workforce at the company, Medtronic plc [MDT] managed to generate an average of $40,067 per employee. 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 2.30 and a Current Ratio set at 2.90.

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

With the latest financial reports released by the company, Medtronic plc posted 1.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.8/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.50%. 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 11.98%.

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An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $114,782 million, or 82.80% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 112,499,622, which is approximately 0.644% of the company’s market cap and around 0.23% of the total institutional ownership; BLACKROCK INC., holding 103,020,182 shares of the stock with an approximate value of $10.87 billion in MDT stocks shares; and STATE STREET CORP, currently with $5.95 billion in MDT stock with ownership of nearly 0.958% of the company’s market capitalization.

Positions in Medtronic plc stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 1,047 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 29,838,388 shares. Additionally, 770 investors decreased positions by around 36,276,128 shares, while 287 investors held positions by with 1,022,172,485 shares. The mentioned changes placed institutional holdings at 1,088,287,001 shares, according to the latest SEC report filing. MDT stock had 115 new institutional investments in for a total of 3,797,860 shares, while 82 institutional investors sold positions of 3,648,009 shares during the same period.