Medtronic Plc [MDT] moved up 0.04: Why It’s Important

Medtronic Plc [NYSE: MDT] closed the trading session at $79.00 on 11/27/23. The day’s price range saw the stock hit a low of $78.24, while the highest price level was $79.3061. The company report on November 21, 2023 at 6:45 AM that Medtronic reports second quarter fiscal 2024 financial results.

Solid execution results in mid-single digit revenue growth, driven by broad-based strength across multiple businesses and geographies; Major innovative product approvals; Raises fiscal year guidance.

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Medtronic plc (NYSE:MDT) today announced financial results for its second quarter of fiscal year 2024 (FY24), which ended October 27, 2023.

The stocks have a year to date performance of 1.65 percent and weekly performance of 5.67 percent. The stock has been moved at -3.02 percent over the last six months. The stock has performed 12.26 percent around the most recent 30 days and changed -2.94 percent over the most recent 3-months.

If compared to the average trading volume of 6.64M shares, MDT reached to a volume of 7184985 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $89.52 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 2.24. 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.

Robert W. Baird have made an estimate for Medtronic Plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 19, 2023.

The Average True Range (ATR) for Medtronic Plc is set at 1.48, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.29. The Price to Book ratio for the last quarter was 2.04, with the Price to Cash per share for the same quarter was set at 5.81. Price to Free Cash Flow for MDT in the course of the last twelve months was 25.99 with Quick ratio for the last quarter at 1.69.

MDT stock trade performance evaluation

Medtronic Plc [MDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.67. With this latest performance, MDT shares gained by 12.26% in over the last four-week period, additionally sinking by -3.02% over the last 6 months – not to mention a drop of -0.03% 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 70.06, with the RSI for the last a single of trading hit 78.73, and the three-weeks RSI is set at 63.06 for Medtronic Plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 74.86, while it was recorded at 78.02 for the last single week of trading, and 81.96 for the last 200 days.

Medtronic Plc [MDT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Medtronic Plc [MDT] shares currently have an operating margin of +17.65 and a Gross Margin at +60.54. Medtronic Plc’s Net Margin is presently recorded at +12.03.

Return on Total Capital for MDT is now 7.12, given the latest momentum, and Return on Invested Capital for the company is 5.00. Return on Equity for this stock inclined to 7.22, with Return on Assets sitting at 4.13. When it comes to the capital structure of this company, Medtronic Plc [MDT] has a Total Debt to Total Equity ratio set at 49.36. Additionally, MDT Total Debt to Total Capital is recorded at 33.05, with Total Debt to Total Assets ending up at 27.94. Long-Term Debt to Equity for the company is recorded at 48.97, with the Long-Term Debt to Total Capital now at 32.79.

Reflecting on the efficiency of the workforce at the company, Medtronic Plc [MDT] managed to generate an average of $39,558 per employee. Receivables Turnover for the company is 5.41 with a Total Asset Turnover recorded at a value of 0.34.Medtronic Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.69 and a Current Ratio set at 2.29.

Earnings per share (EPS) analysis for Medtronic Plc [MDT] stock

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 3.37%.

Medtronic Plc [MDT]: Institutional Ownership

The top three institutional holders of MDT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in MDT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in MDT stock with ownership which is approximately 5.7994%.