Medtronic plc [MDT] Stock trading around $77.98 per share: What’s Next?

Medtronic plc [NYSE: MDT] stock went on an upward path that rose over 1.64% on Monday, amounting to a one-week price decrease of less than -4.82%. The company report on March 13, 2023 that Medtronic Named One of World’s Most Ethical Companies.

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Medtronic plc (NYSE:MDT), a global leader in healthcare technology, has been recognized by Ethisphere, a leader in defining and advancing the standards of ethical business practices, as one of the 2023 World’s Most Ethical Companies. In 2023, 135 honorees were recognized spanning 19 countries and 46 industries. Medtronic is one of only two honorees in the ‘Healthcare Products’ industry category.

“We strive to act responsibility and earn the trust of our customers and communities, and this award is a true testament to our 95,000+ global employees and the customers we serve,” said Geoff Martha, Medtronic chairman and chief executive officer. “Written more than 60 years ago, the Medtronic Mission continues to be the cornerstone of our culture and business operations. Our Mission commits us to maintaining good citizenship in all the communities in which we live and operate, and to society in general.”.

Over the last 12 months, MDT stock dropped by -25.35%. The one-year Medtronic plc stock forecast points to a potential upside of 16.81. The average equity rating for MDT stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $105.48 billion, with 1.33 billion shares outstanding and 1.33 billion shares in the current float. Compared to the average trading volume of 6.72M shares, MDT stock reached a trading volume of 7575847 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 $93.74 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.

RBC Capital Mkts have made an estimate for Medtronic plc shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on January 09, 2023. While these analysts kept the previous recommendation, Oppenheimer raised their target price from $106 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 drop from $108 to $85, while Citigroup kept a Neutral rating on MDT stock.

The Average True Range (ATR) for Medtronic plc is set at 1.73, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.43. 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 8.23. Price to Free Cash Flow for MDT in the course of the last twelve months was 172.07 with Quick ratio for the last quarter at 1.40.

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 -4.82. With this latest performance, MDT shares dropped by -6.73% in over the last four-week period, additionally sinking by -13.09% over the last 6 months – not to mention a drop of -25.35% 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 35.70, with the RSI for the last a single of trading hit 31.30, and the three-weeks RSI is set at 39.78 for Medtronic plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 81.98, while it was recorded at 78.17 for the last single week of trading, and 85.66 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 +19.53 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.


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 2.14%.

Medtronic plc [MDT] Insider Position Details

There are presently around $84,849 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 125,126,702, which is approximately 1.021% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 122,290,951 shares of the stock with an approximate value of $9.54 billion in MDT stocks shares; and STATE STREET CORP, currently with $4.68 billion in MDT stock with ownership of nearly 1.762% of the company’s market capitalization.

Positions in Medtronic plc stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 899 institutional holders increased their position in Medtronic plc [NYSE:MDT] by around 61,977,139 shares. Additionally, 1,079 investors decreased positions by around 63,111,372 shares, while 165 investors held positions by with 963,001,016 shares. The mentioned changes placed institutional holdings at 1,088,089,527 shares, according to the latest SEC report filing. MDT stock had 200 new institutional investments in for a total of 6,434,038 shares, while 157 institutional investors sold positions of 8,300,433 shares during the same period.


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