Wall Street Analyst Initiated Medtronic Plc [MDT]. What else is Wall St. saying

Medtronic Plc [NYSE: MDT] closed the trading session at $83.67. The company report on February 26, 2024 at 8:00 AM that Orchestra BioMed Presents New Data Showing Sustained Clinically Meaningful Reduction in 24-Hour Ambulatory Systolic Blood Pressure in Hypertensive Pacemaker Patients Treated with AVIM Therapy for Over 3 Years.

8.9 mmHg mean reduction in 24-Hour ambulatory systolic blood pressure at average of 3.6 years from initiation of AVIM therapy in patients who participated in the MODERATO II study.

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Orchestra BioMed is actively enrolling patients in the BACKBEAT pivotal study of AVIM therapy in hypertensive pacemaker patients.

The stocks have a year to date performance of 1.57 percent and weekly performance of -0.89 percent. The stock has been moved at 3.22 percent over the last six months. The stock has performed -2.47 percent around the most recent 30 days and changed 6.76 percent over the most recent 3-months.

If compared to the average trading volume of 6.09M shares, MDT reached to a volume of 5973948 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 $93.10 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 2.38. 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. While these analysts kept the previous recommendation, CL King raised their target price to Buy. The new note on the price target was released on June 30, 2023, representing the official price target for Medtronic Plc stock. Previously, the target price had yet another raise to $104, while Morgan Stanley analysts kept a Overweight rating on MDT stock. On April 24, 2023, analysts increased their price target for MDT shares from 77 to 100.

The Average True Range (ATR) for Medtronic Plc is set at 1.61, with the Price to Sales ratio for MDT stock in the period of the last 12 months amounting to 3.44. The Price to Book ratio for the last quarter was 2.15, with the Price to Cash per share for the same quarter was set at 6.26. Price to Free Cash Flow for MDT in the course of the last twelve months was 22.56 with Quick ratio for the last quarter at 1.71.

MDT stock trade performance evaluation

Medtronic Plc [MDT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.89. With this latest performance, MDT shares dropped by -2.47% in over the last four-week period, additionally plugging by 3.22% over the last 6 months – not to mention a drop of -0.38% 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 42.13, with the RSI for the last a single of trading hit 37.70, and the three-weeks RSI is set at 46.02 for Medtronic Plc [MDT]. The present Moving Average for the last 50 days of trading for this stock 85.00, while it was recorded at 85.23 for the last single week of trading, and 82.26 for the last 200 days.

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

Medtronic Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.71 and a Current Ratio set at 2.30.

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

With the latest financial reports released by the company, Medtronic Plc posted 1.57/share EPS, while the average EPS was predicted by analysts to be reported at 1.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.60%. 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 3.48%.

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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MDT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MDT stock with ownership which is approximately 5.8325%.