Medtronic plc [MDT] Revenue clocked in at $31.07 billion, down -18.92% YTD: What’s Next?

Medtronic plc [NYSE: MDT] gained 0.74% or 0.62 points to close at $83.88 with a heavy trading volume of 6041105 shares. The company report on October 24, 2022 that Medtronic chairman and CEO Geoff Martha to speak at the CECP’s CEO Investor Forum.


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Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced it will participate in the Chief Executives for Corporate Purpose’s (CECP’s) 10th CEO Investor Forum held at AdvaMed’s 2022 MedTech Conference on Tuesday, October 25, 2022, in Boston, MA.

Geoff Martha, Medtronic chairman and chief executive officer, will make a formal presentation and answer questions on the company beginning at 3:30 p.m. CDT (4:30 p.m. EDT).

It opened the trading session at $84.13, the shares rose to $84.46 and dropped to $83.065, the range by which the price of stock traded the whole day. The daily chart for MDT points out that the company has recorded -23.38% loss over the past six months. However, it is still -5.59% lower than its most recent low trading price.

If we look at the average trading volume of 5.65M shares, MDT reached to a volume of 6041105 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 $105.89 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.

Barclays have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 18, 2022. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on October 13, 2022, representing the official price target for Medtronic plc stock. Previously, the target price had yet another raise to $87, while Jefferies analysts kept a Hold rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 2.20, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.55. The Price to Book ratio for the last quarter was 2.12, with the Price to Cash per share for the same quarter was set at 6.74. Price to Free Cash Flow for MDT in the course of the last twelve months was 48.38 with Quick ratio for the last quarter at 1.20.

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 1.35. With this latest performance, MDT shares gained by 1.48% in over the last four-week period, additionally sinking by -23.38% over the last 6 months – not to mention a drop of -31.85% 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 49.16, with the RSI for the last a single of trading hit 52.82, and the three-weeks RSI is set at 47.08 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 86.81, while it was recorded at 83.47 for the last single week of trading, and 97.44 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 +22.55 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.

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 10.53%.

An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $89,845 million, or 83.40% 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 $9.26 billion in MDT stocks shares; and STATE STREET CORP, currently with $4.87 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 956 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 55,998,223 shares. Additionally, 955 investors decreased positions by around 61,769,782 shares, while 244 investors held positions by with 953,348,437 shares. The mentioned changes placed institutional holdings at 1,071,116,442 shares, according to the latest SEC report filing. MDT stock had 111 new institutional investments in for a total of 7,414,308 shares, while 155 institutional investors sold positions of 6,326,282 shares during the same period.

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