Medtronic plc [MDT] Is Currently -1.04 below its 200 Period Moving Avg: What Does This Mean?

Medtronic plc [NYSE: MDT] traded at a low on 12/05/22, posting a -1.04 loss after which it closed the day’ session at $78.79. The company report on December 5, 2022 that Medtronic Podcast: Krista Sugerman Explains How Medtronic Is Developing New Innovative Technology To Make Its Fight Against Diabetes Is Personal.

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In this episode, Krista Sugerman, Vice President, Global Marketing & Communications of the diabetes business at Medtronic, shares how diabetes has impacted people close to her and why the company is keeping focused on how living with diabetes is a constant balancing act. The company is developing innovative technology to help patients manage their disease and reduce the burden of living with diabetes no matter how they prefer to manage their diabetes.

The results of the trading session contributed to over 8514387 shares changing hands. Over the past one week, the price volatility of Medtronic plc stands at 2.02% while the volatility over the past one month is 2.24%.

The market cap for MDT stock reached $104.32 billion, with 1.33 billion shares outstanding and 1.33 billion shares in the current float. Compared to the average trading volume of 6.92M shares, MDT reached a trading volume of 8514387 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $93.89 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 2.50. 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.

Oppenheimer have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Perform, with their previous recommendation back on November 23, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price from $108 to $85. The new note on the price target was released on November 23, 2022, representing the official price target for Medtronic plc stock. Previously, the target price had yet another raise to $85, while Deutsche Bank analysts kept a Hold rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 2.11, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.39. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 8.63. Price to Free Cash Flow for MDT in the course of the last twelve months was 78.73 with Quick ratio for the last quarter at 1.40.

How has MDT stock performed recently?

Medtronic plc [MDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.49. With this latest performance, MDT shares dropped by -6.22% in over the last four-week period, additionally sinking by -17.49% over the last 6 months – not to mention a drop of -26.27% 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 43.82, with the RSI for the last a single of trading hit 44.30, and the three-weeks RSI is set at 43.83 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 82.31, while it was recorded at 78.64 for the last single week of trading, and 94.15 for the last 200 days.

Medtronic plc [MDT]: Deeper insight into the 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 1.40 and a Current Ratio set at 1.80.

Earnings analysis for Medtronic plc [MDT]

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 2.94%.

Insider trade positions for Medtronic plc [MDT]

There are presently around $85,900 million, or 84.60% of MDT stock, in the hands of institutional investors. The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 123,861,994, which is approximately 0.861% of the company’s market cap and around 0.09% of the total institutional ownership; BLACKROCK INC., holding 115,998,561 shares of the stock with an approximate value of $9.14 billion in MDT stocks shares; and STATE STREET CORP, currently with $4.65 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 1,002 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 63,534,182 shares. Additionally, 888 investors decreased positions by around 46,644,305 shares, while 223 investors held positions by with 980,061,774 shares. The mentioned changes placed institutional holdings at 1,090,240,261 shares, according to the latest SEC report filing. MDT stock had 89 new institutional investments in for a total of 6,748,188 shares, while 154 institutional investors sold positions of 6,180,231 shares during the same period.


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