Medtronic plc [MDT] is 6.26% higher this YTD. Is it still time to buy?


Medtronic plc [NYSE: MDT] traded at a high on 03/28/22, posting a 1.36 gain after which it closed the day’ session at $109.93. The company report on March 24, 2022 that Medtronic announces first patient implants of investigational implantable tibial neuromodulation therapy for bladder incontinence.

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TITAN 2 pivotal study to evaluate implantable tibial neuromodulation (TNM) device to help expand patient access to advanced therapy.

Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced the first patient implants in the TITAN 2 pivotal study that will evaluate the safety and efficacy of Medtronic’s investigational implantable tibial neuromodulation (TNM) device in people with overactive bladder (OAB). The minimally invasive technology stimulates the posterior tibial nerve near the ankle, transmitting electrical impulses that regulate neural activity of the bladder.

The results of the trading session contributed to over 5677517 shares changing hands. Over the past one week, the price volatility of Medtronic plc stands at 1.67% while the volatility over the past one month is 2.09%.

The market cap for MDT stock reached $144.61 billion, with 1.34 billion shares outstanding and 1.34 billion shares in the current float. Compared to the average trading volume of 6.73M shares, MDT reached a trading volume of 5677517 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $124.53 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.

BofA Securities have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 02, 2022. The new note on the price target was released on January 10, 2022, representing the official price target for Medtronic plc stock. Previously, the target price had yet another drop from $145 to $120, while Morgan Stanley kept a Equal-Weight rating on MDT stock. On January 04, 2022, analysts decreased their price target for MDT shares from 152 to 110.

The Average True Range (ATR) for Medtronic plc is set at 2.30, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 4.55. The Price to Book ratio for the last quarter was 2.81, with the Price to Cash per share for the same quarter was set at 8.53. Price to Free Cash Flow for MDT in the course of the last twelve months was 61.35 with Quick ratio for the last quarter at 2.10.

How has MDT stock performed recently?

Medtronic plc [MDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.09. With this latest performance, MDT shares gained by 3.86% in over the last four-week period, additionally sinking by -14.62% over the last 6 months – not to mention a drop of -7.75% 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 59.94, with the RSI for the last a single of trading hit 62.87, and the three-weeks RSI is set at 57.47 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 105.11, while it was recorded at 107.97 for the last single week of trading, and 117.66 for the last 200 days.

Medtronic plc [MDT]: Deeper insight into the fundamentals

Medtronic plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.60.

Earnings analysis for Medtronic plc [MDT]

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 12.16%.

Insider trade positions for Medtronic plc [MDT]

There are presently around $119,511 million, or 83.10% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 113,153,710, which is approximately 0.581% of the company’s market cap and around 0.23% of the total institutional ownership; BLACKROCK INC., holding 107,903,362 shares of the stock with an approximate value of $11.86 billion in MDT stocks shares; and STATE STREET CORP, currently with $6.37 billion in MDT stock with ownership of nearly 2.822% of the company’s market capitalization.

Positions in Medtronic plc stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 1,098 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 65,404,555 shares. Additionally, 940 investors decreased positions by around 67,639,337 shares, while 207 investors held positions by with 954,111,516 shares. The mentioned changes placed institutional holdings at 1,087,155,408 shares, according to the latest SEC report filing. MDT stock had 222 new institutional investments in for a total of 6,623,166 shares, while 196 institutional investors sold positions of 7,075,227 shares during the same period.