Deutsche Bank lifts Medtronic plc [MDT] price estimate. Who else is bullish?

Medtronic plc [NYSE: MDT] gained 1.70% or 1.36 points to close at $81.30 with a heavy trading volume of 9027919 shares. The company report on November 15, 2022 that Medtronic to announce financial results for its second quarter of fiscal year 2023.


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– Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced that it will report financial results for its second quarter of fiscal year 2023 on Tuesday, November 22, 2022. A news release will be issued at approximately 5:45 a.m. Central Standard Time (CST) and will be available at https://news.medtronic.com. The news release will include summary financial information for the company’s second quarter of fiscal year 2023, which ended on Friday, October 28, 2022.

Medtronic will host a video webcast at 7:00 a.m. CST on Tuesday, November 22, 2022, to discuss results for its second quarter of fiscal year 2023. The webcast can be accessed at https://investorrelations.medtronic.com.

It opened the trading session at $79.72, the shares rose to $81.63 and dropped to $79.51, the range by which the price of stock traded the whole day. The daily chart for MDT points out that the company has recorded -20.71% loss over the past six months. However, it is still -2.66% lower than its most recent low trading price.

If we look at the average trading volume of 6.33M shares, MDT reached to a volume of 9027919 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 $103.61 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 2.40. 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.

Deutsche Bank have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on October 18, 2022, representing the official price target for Medtronic plc stock. Previously, the target price had yet another raise to $100, while Mizuho analysts kept a Buy rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 2.24, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.42. 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 6.79. Price to Free Cash Flow for MDT in the course of the last twelve months was 46.56 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for MDT stock

Medtronic plc [MDT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.69. With this latest performance, MDT shares dropped by -1.39% in over the last four-week period, additionally sinking by -20.71% over the last 6 months – not to mention a drop of -30.91% 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 44.33, with the RSI for the last a single of trading hit 43.59, and the three-weeks RSI is set at 44.64 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 84.23, while it was recorded at 81.86 for the last single week of trading, and 95.38 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 3.23%.

An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $88,639 million, or 84.70% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 123,861,994, which is approximately 0.861% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 115,998,561 shares of the stock with an approximate value of $9.43 billion in MDT stocks shares; and STATE STREET CORP, currently with $4.8 billion in MDT stock with ownership of nearly 1.6% of the company’s market capitalization.

Positions in Medtronic plc stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 1,003 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 63,546,809 shares. Additionally, 888 investors decreased positions by around 46,584,654 shares, while 221 investors held positions by with 980,143,590 shares. The mentioned changes placed institutional holdings at 1,090,275,053 shares, according to the latest SEC report filing. MDT stock had 89 new institutional investments in for a total of 6,744,779 shares, while 153 institutional investors sold positions of 6,156,269 shares during the same period.

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