Weekly Performance Analysis for Medtronic plc (MDT)

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Medtronic plc (NYSE:MDT) saw an upside of 1.80% to close Monday at $82.37 after adding $1.46 on the day. The 5-day average trading volume is 7,660,880 shares of the company’s common stock. It has gained $82.95 in the past week and touched a new high 3 times within the past 5 days. An average of 6,900,990 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,978,242.

MDT’s 1-month performance is 7.39% or $4.87 on its low of $76.24 reached on 12/28/22. The company’s shares have touched a 52-week low of $75.76 and high of $114.31, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, MDT has achieved 5.98% or $4.65 and has reached a new high 3 times. However, the current price is down -27.94% from the 52-week high price.

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Insider Transactions

MDT stock investors last saw insider trading activity on Dec 13.Salmon Sean (EVP & President Cardiovascular) most recently sold 16,631 shares at $80.50 per share on Dec 13. This transaction cost the insider $1,338,736. EVP and Pres. Global Regions, TEN HOEDT ROB, sold 2,404 shares at a price of $81.54 on Oct 14. Then, on Mar 18, EVP & Chief Financial Officer PARKHILL KAREN L sold 682 shares at a price of $110.00 per share. This transaction amounted to $75,020.

Valuation Metrics

MDT stock has a beta of 0.72. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.50 while the price-to-book (PB) in the most recent quarter is 2.11, with the price to cash flow ratio at 81.27.

Medtronic plc’s quick ratio for the period ended October 30 was 1.40, with the current ratio over the same period at 1.80. As well, the company’s long term debt to equity for the quarter ending October 30 was 0.40, while the total debt to equity was 0.51. In terms of profitability, the gross margin trailing 12 months is 67.60%. The firm’s gross profit as reported stood at $21.54 billion against revenue of $31.69 billion.

Earnings Surprise

For the quarterly period ending October 30 this year, Medtronic plc’s cash and short-term investments amounted to $6.6 billion against total debt of $26.62 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -207.03% to $427.0 million, while revenue of $929.0 million was -117.56% off the previous quarter. Analysts expected MDT to announce $1.28 per share in earnings in its latest quarter, but it posted $1.3, representing a 1.60% surprise. EBITDA for the quarter stood at more than $2.07 billion. MDT stock balance sheet for the quarter ending October 30 shows that total liabilities totaled 41.18 billion, with total debt at $26.62 billion. Shareholders hold equity totaling $1.33 billion.

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 23 January was 64.64% to suggest the stock is trending Neutral, with historical volatility in this time period at 19.59%.

The stock’s 5-day moving average is $80.38, reflecting a +2.21% or $1.78 change from its current price. MDT is currently trading +6.75% above its 20-day SMA, -7.36% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +2.72% and SMA200 by-25.46%.

Stochastic %K and %D was 77.01% and 66.19% and the average true range (ATR) pointed at 1.91. The RSI (14) points at 59.98%, while the 14-day stochastic is at 89.59% with the period’s ATR at 1.89. The stock’s 9-day MACD Oscillator is pointing at 0.76 and 0.99 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Medtronic plc (NYSE: MDT), RBC Capital Mkts downgraded it to a Sector perform rating. They previously had an Outperform rating on the stock.


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