Raymond James lifts Medtronic plc [MDT] price estimate. Who else is bullish?

Medtronic plc [NYSE: MDT] stock went on an upward path that rose over 0.06% on Tuesday, amounting to a one-week price decrease of less than -3.09%. The company report on October 11, 2022 that Turning Environmental and Social Promises Into Action.


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Between the ongoing COVID-19 pandemic and the war in Ukraine, this past year presented many challenges. And yet Medtronic continues to make progress on its environmental, social, and governance (ESG) goals.

Today, the company released its Integrated Performance Report, which recaps the company’s ESG work, including: accelerating patient access to care and health equity; creating life-transforming healthcare technologies; fostering inclusion, diversity, and equity (ID&E); and furthering environmental sustainability.

Over the last 12 months, MDT stock dropped by -33.71%. The one-year Medtronic plc stock forecast points to a potential upside of 24.46. The average equity rating for MDT stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $111.49 billion, with 1.33 billion shares outstanding and 1.33 billion shares in the current float. Compared to the average trading volume of 5.47M shares, MDT stock reached a trading volume of 5409455 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 $108.40 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 2.01, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.59. The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 6.52. Price to Free Cash Flow for MDT in the course of the last twelve months was 48.85 with Quick ratio for the last quarter at 1.20.

MDT Stock Performance Analysis:

Medtronic plc [MDT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.09. With this latest performance, MDT shares dropped by -11.05% in over the last four-week period, additionally sinking by -26.57% over the last 6 months – not to mention a drop of -33.71% 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 38.15, with the RSI for the last a single of trading hit 37.58, and the three-weeks RSI is set at 38.90 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 88.77, while it was recorded at 83.12 for the last single week of trading, and 98.44 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 +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.

MDT Stock EPS

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 10.53%.

Medtronic plc [MDT] Insider Position Details

There are presently around $87,906 million, or 83.60% 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 $9.04 billion in MDT stocks shares; and STATE STREET CORP, currently with $4.75 billion in MDT stock with ownership of nearly -0.758% of the company’s market capitalization.

966 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 56,549,391 shares. Additionally, 971 investors decreased positions by around 62,635,325 shares, while 244 investors held positions by with 954,275,641 shares. The mentioned changes placed institutional holdings at 1,073,460,357 shares, according to the latest SEC report filing. MDT stock had 115 new institutional investments in for a total of 7,389,748 shares, while 160 institutional investors sold positions of 6,368,890 shares during the same period.

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