Market cap of Medtronic plc [MDT] reaches 116.95B – now what?


Medtronic plc [NYSE: MDT] loss -0.96% on the last trading session, reaching $89.62 price per share at the time. The company report on June 27, 2022 that Medtronic Board appoints Lidia Fonseca as a new director.

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Medtronic plc (NYSE: MDT) today announced that its Board of Directors appointed Lidia Fonseca, Executive Vice President, Chief Digital and Technology Officer at Pfizer, to the Board as an independent director, effective June 27, 2022. Ms. Fonseca will serve on the Compensation Committee and Science and Technology Committee of the Board.

“We are thrilled to welcome Lidia to Medtronic’s Board of Directors,” said Geoff Martha, Medtronic chairman and chief executive officer. “She has an impressive history of developing digital healthcare solutions that deliver powerful insights to improve patients’ lives. Her extensive knowledge and expertise will provide the Board with an important dimension and a tremendously valuable perspective as we drive toward our bold ambition to become the global leader in healthcare technology.”.

Medtronic plc represents 1.34 billion in outstanding shares, while the company has a total market value of $116.95 billion with the latest information. MDT stock price has been found in the range of $89.10 to $90.48.

If compared to the average trading volume of 5.87M shares, MDT reached a trading volume of 8046219 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 $116.78 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 2.10. 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.

Wolfe Research have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on July 06, 2022. While these analysts kept the previous recommendation, Atlantic Equities dropped their target price from $125 to $105. The new note on the price target was released on June 01, 2022, representing the official price target for Medtronic plc stock. On April 13, 2022, analysts decreased their price target for MDT shares from 124 to 121.

The Average True Range (ATR) for Medtronic plc is set at 2.29, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.69. The Price to Book ratio for the last quarter was 2.28, with the Price to Cash per share for the same quarter was set at 8.10. Price to Free Cash Flow for MDT in the course of the last twelve months was 45.05 with Quick ratio for the last quarter at 1.50.

Trading performance analysis for MDT stock

Medtronic plc [MDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.47. With this latest performance, MDT shares dropped by -6.14% in over the last four-week period, additionally sinking by -15.53% over the last 6 months – not to mention a drop of -29.42% 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 39.37, with the RSI for the last a single of trading hit 41.66, and the three-weeks RSI is set at 38.78 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 97.79, while it was recorded at 90.33 for the last single week of trading, and 108.34 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 +22.48 and a Gross Margin at +63.13. Medtronic plc’s Net Margin is presently recorded at +15.91.

Return on Equity for this stock inclined to 9.69, with Return on Assets sitting at 5.48.

Medtronic plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.90.

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

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 12.66%.

An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $97,802 million, or 84.10% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 120,557,488, which is approximately 6.543% of the company’s market cap and around 0.24% of the total institutional ownership; BLACKROCK INC., holding 107,991,652 shares of the stock with an approximate value of $9.77 billion in MDT stocks shares; and STATE STREET CORP, currently with $5.29 billion in MDT stock with ownership of nearly 0.914% of the company’s market capitalization.

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 1,197 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 68,113,965 shares. Additionally, 810 investors decreased positions by around 68,150,737 shares, while 217 investors held positions by with 944,544,686 shares. The mentioned changes placed institutional holdings at 1,080,809,388 shares, according to the latest SEC report filing. MDT stock had 197 new institutional investments in for a total of 12,033,681 shares, while 130 institutional investors sold positions of 10,993,098 shares during the same period.