Wall Street Analyst Downgrade Medtronic plc [MDT]. What else is Wall St. saying

Medtronic plc [NYSE: MDT] closed the trading session at $81.33 on 09/26/22. The day’s price range saw the stock hit a low of $80.685, while the highest price level was $82.59. The company report on September 23, 2022 that Employees Report They’re Safe and Now Bringing Puerto Rico Production Back Online.

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The power remains out in most of Puerto Rico in the wake of Hurricane Fiona, but all Medtronic operations are coming back online anyway.

“All shifts at all sites resumed operations Tuesday morning,” said Carlos Rodriguez, Senior Manufacturing Director. “Fiona caused some water in a couple of our facilities but we have them under control. And we do not have any major equipment issues. Everything is up and running.”.

The stocks have a year to date performance of -21.38 percent and weekly performance of -9.31 percent. The stock has been moved at -25.01 percent over the last six months. The stock has performed -11.73 percent around the most recent 30 days and changed -10.10 percent over the most recent 3-months.

If compared to the average trading volume of 5.48M shares, MDT reached to a volume of 7075920 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 $108.49 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 2.20. 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.

Raymond James have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on August 24, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Underperform. The new note on the price target was released on July 06, 2022, representing the official price target for Medtronic plc stock. Previously, the target price had yet another drop from $125 to $105, while Atlantic Equities kept a Neutral rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 2.08, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.52. The Price to Book ratio for the last quarter was 2.05, with the Price to Cash per share for the same quarter was set at 6.60. Price to Free Cash Flow for MDT in the course of the last twelve months was 47.89 with Quick ratio for the last quarter at 1.20.

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 -9.31. With this latest performance, MDT shares dropped by -11.73% in over the last four-week period, additionally sinking by -25.01% over the last 6 months – not to mention a drop of -37.45% 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 27.07, with the RSI for the last a single of trading hit 20.29, and the three-weeks RSI is set at 31.48 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 90.65, while it was recorded at 84.35 for the last single week of trading, and 99.71 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 +22.55 and a Gross Margin at +62.88. 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 1.20 and a Current Ratio set at 1.60.

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

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%.

Medtronic plc [MDT]: Insider Ownership positions

There are presently around $87,494 million, or 83.50% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 122,804,999, which is approximately 1.864% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 110,378,084 shares of the stock with an approximate value of $8.98 billion in MDT stocks shares; and STATE STREET CORP, currently with $4.72 billion in MDT stock with ownership of nearly -0.758% of the company’s market capitalization.

Positions in Medtronic plc stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 991 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 57,366,138 shares. Additionally, 971 investors decreased positions by around 62,245,606 shares, while 247 investors held positions by with 956,181,816 shares. The mentioned changes placed institutional holdings at 1,075,793,560 shares, according to the latest SEC report filing. MDT stock had 118 new institutional investments in for a total of 7,983,580 shares, while 162 institutional investors sold positions of 6,229,136 shares during the same period.


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