Insider Activity Monitoring: Medtronic plc (MDT)

Medtronic plc (NYSE:MDT) saw a downside of -1.78% to close Monday at $125.05 after subtracting -$2.26 on the day. The 5-day average trading volume is 4,721,940 shares of the company’s common stock. It has gained $128.56 in the past week. An average of 3,871,695 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,889,924.

MDT’s 1-month performance is -7.18% or -$9.58 on its low of $124.25 reached on 10/04/21. The company’s shares have touched a 52-week low of $98.94 and high of $135.89, with the stock’s rally to the 52-week high happening on 09/09/21. YTD, MDT has achieved 6.75% or $7.91. However, the current price is down -7.98%% from the 52-week high price.

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Insider Transactions

On Sep 30, 5 days have gone by since the last insider trading activity for Medtronic plc (MDT). Lerman Bradley E (SVP General Counsel & Corp Sec) most recently sold 49,147 shares at $126.58 per share on Sep 30. This transaction cost the insider $6,221,027. SVP General Counsel & Corp Sec, Lerman Bradley E, sold 50,775 shares at a price of $134.17 on Aug 31. Then, on Aug 25, EVP & Pres Diabetes/Cardiovasc Salmon Sean sold 28,419 shares at a price of $134.08 per share. This transaction amounted to $3,810,492.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 61.45 and a low of 18.51. MDT stock has a beta of 0.82. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.24 while the price-to-book (PB) in the most recent quarter is 3.27, with the price to cash flow ratio at 62.13.

Medtronic plc pays an annual dividend of $2.52 per share. Its dividend yield is 2.02% and the payout ratio is 82.20%. MDT paid $0.63 a share compared with prior rate of $0.63, down 0.0% from last year’s. The company has boosted its dividend for the last 44 consecutive years with the latest dividend increase of $0.05 reported on Thursday May 27 2021. Measured over the last 3 years, the Dividend has been growing by 25.97% yearly.

It is projected that Medtronic plc’s next ex-dividend date will be on Plc’s. MDT is expected to distribute $27-Dec as its next dividend.

Medtronic plc’s quick ratio for the period ended July 30 was 2.30, with the current ratio over the same period at 2.90 meaning that MDT stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending July 30 was 0.50, while the total debt to equity was 0.50. In terms of profitability, the gross margin trailing 12 months is 66.90%The trailing 12-month EBITDA margin is 27.35% while for the period ending July 30; Medtronic plc’s operating margin was 13.80%. The firm’s gross profit as reported stood at $19.63 billion against revenue of $30.12 billion.

Earnings Surprise

For the quarterly period ending July 30 this year, Medtronic plc’s cash and short-term investments amounted to $7.59 billion against total debt of $25.96 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 18.53% to $7.99 billion, while revenue of $8.19 billion was -2.52% off the previous quarter. Analysts expected MDT to announce $1.32 per share in earnings in its latest quarter, but it posted $1.41, representing a 6.80% surprise. EBITDA for the quarter stood at more than $1.53 billion. MDT stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 40.14 billion, with total debt at $25.96 billion. Shareholders hold equity totaling $1.35 billion

Technical Picture

Let’s look briefly at Medtronic plc (MDT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 04 October was 34.37% to suggest the stock is trending Neutral, with historical volatility in this time period at 20.09%.

The stock’s 5-day moving average is $126.06, reflecting a -2.87% or -$3.70 change from its current price. MDT is currently trading -7.12% above its 20-day SMA, +1.57% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -2.72% and +8.77% respectively.

Stochastic %K and %D was 12.97% and 10.97% and the average true range (ATR) pointed at 2.49. The RSI (14) points at 37.50%, while the 14-day stochastic is at 9.60% with the period’s ATR at 2.34. The stock’s 9-day MACD Oscillator is pointing at -1.72 and -2.49 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for MDT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MDT as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 19 have offered a “buy” rating.

What is MDT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $129.00 and a high of $155.00, with their median price target at $148.00. Looking at these predictions, the average price target given by analysts is for Medtronic plc (MDT) stock is $146.96.


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