Medtronic plc [NYSE: MDT] stock went on an upward path that rose over 1.84% on Tuesday, amounting to a one-week price increase of more than 5.22%. The company report on December 7, 2021 that Medtronic Hugo™ robotic-assisted surgery system receives Health Canada licence, further enabling access to robotic-assisted surgery in Canada.
Medtronic Canada ULC, a subsidiary of Medtronic plc (NYSE: MDT), the world’s leading medical technology company, announced it has received a Health Canada licence for the Hugo™ robotic-assisted surgery (RAS) system for use in use in urologic and gynecologic laparoscopic surgical procedures, which make up about half of all robotic procedures performed.1.
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“This licence ushers in a new opportunity for healthcare in Canada, bringing the benefits of robotic-assisted surgery to more patients by addressing the historic cost and utilization barriers that have stifled robotic surgery adoption for two decades,” said Megan Rosengarten, president of the Surgical Robotics business, which is part of the Medical Surgical Portfolio at Medtronic. “We’re beginning to see what the Hugo RAS system can do in the hands of clinicians in Latin America and Asia Pacific, and we’re excited to see the possibilities it creates in Canada.”.
Over the last 12 months, MDT stock dropped by -0.30%. The one-year Medtronic plc stock forecast points to a potential upside of 20.24. 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 $151.57 billion, with 1.35 billion shares outstanding and 1.34 billion shares in the current float. Compared to the average trading volume of 5.06M shares, MDT stock reached a trading volume of 9508167 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 $140.76 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 2.88, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 4.77. The Price to Book ratio for the last quarter was 2.90, with the Price to Cash per share for the same quarter was set at 7.90. Price to Free Cash Flow for MDT in the course of the last twelve months was 60.19 with Quick ratio for the last quarter at 2.40.
MDT Stock Performance Analysis:
Medtronic plc [MDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.22. With this latest performance, MDT shares dropped by -8.71% in over the last four-week period, additionally sinking by -8.81% over the last 6 months – not to mention a drop of -0.30% 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 43.13, with the RSI for the last a single of trading hit 48.67, and the three-weeks RSI is set at 41.04 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 119.85, while it was recorded at 108.43 for the last single week of trading, and 124.35 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 +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 2.40 and a Current Ratio set at 2.90.
MDT Stock EPS
With the latest financial reports released by the company, Medtronic plc posted 1.29/share EPS, while the average EPS was predicted by analysts to be reported at 1.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.20%. 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 11.46%.
Medtronic plc [MDT] Insider Position Details
There are presently around $122,182 million, or 83.00% 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 $11.57 billion in MDT stocks shares; and STATE STREET CORP, currently with $6.33 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 1,046 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 29,836,811 shares. Additionally, 770 investors decreased positions by around 36,275,884 shares, while 288 investors held positions by with 1,022,175,777 shares. The mentioned changes placed institutional holdings at 1,088,288,472 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.