Medtronic plc [MDT] moved up 0.52: Why It’s Important

Medtronic plc [NYSE: MDT] gained 0.52% or 0.4 points to close at $77.12 with a heavy trading volume of 9354915 shares. The company report on December 19, 2022 that Medtronic Chairman and CEO Geoff Martha to speak at J.P. Morgan healthcare conference.


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Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced it will participate in the 41st annual J.P. Morgan healthcare conference.

Geoff Martha, Medtronic chairman and chief executive officer, will make a formal presentation on the company beginning at 9:00 a.m. PST (11:00 a.m. CST) on Monday, January 9, 2023.  Immediately following the presentation, Martha, Karen Parkhill, executive vice president and chief financial officer, and other portfolio leaders will answer questions on the company.

It opened the trading session at $76.71, the shares rose to $77.21 and dropped to $76.29, the range by which the price of stock traded the whole day. The daily chart for MDT points out that the company has recorded -13.07% loss over the past six months. However, it is still -1.8% lower than its most recent low trading price.

If we look at the average trading volume of 7.05M shares, MDT reached to a volume of 9354915 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 $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 1.89, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.37. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 8.48. Price to Free Cash Flow for MDT in the course of the last twelve months was 78.43 with Quick ratio for the last quarter at 1.40.

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 -3.25. With this latest performance, MDT shares dropped by -3.53% in over the last four-week period, additionally sinking by -13.07% over the last 6 months – not to mention a drop of -23.36% 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 41.92, with the RSI for the last a single of trading hit 40.65, and the three-weeks RSI is set at 42.58 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 81.38, while it was recorded at 78.10 for the last single week of trading, and 92.82 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 1.40 and a Current Ratio set at 1.80.

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 2.94%.

An analysis of insider ownership at Medtronic plc [MDT]

There are presently around $84,080 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 $8.95 billion in MDT stocks shares; and STATE STREET CORP, currently with $4.55 billion in MDT stock with ownership of nearly 1.6% of the company’s market capitalization.

1,000 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 63,377,828 shares. Additionally, 889 investors decreased positions by around 46,644,505 shares, while 223 investors held positions by with 980,230,734 shares. The mentioned changes placed institutional holdings at 1,090,253,067 shares, according to the latest SEC report filing. MDT stock had 87 new institutional investments in for a total of 6,574,485 shares, while 154 institutional investors sold positions of 6,180,231 shares during the same period.

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