As of Friday close, Medtronic plc’s (NYSE:MDT) stock was down -$0.45, moving down -0.53 percent to $84.04. The average number of shares traded per day over the past five days has been 4,913,780 shares. 1 time new highs have been achieved over the past 5 days, with a -$4.21 fall in that time frame. In the last twenty days, the average volume was 4,483,265, while in the previous 50 days, it was 5,332,626.
Since last month, MDT stock retreated -2.36%. Shares of the company fell to $83.69 on 08/04/23, the lowest level in the past month. A 52-week high of $95.60 was reached on 05/03/23 after having rallying from a 52-week low of $75.76. Since the beginning of this year, MDT’s stock price has risen by 8.13% or $6.32, and marked a new high 13 times. However, the stock has declined by -12.09% since its 52-week high.
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MDT stock investors should be aware that Medtronic plc (MDT) stock had its last reported insider trading activity 22 days ago on Jul 14. Wall Brett A., the EVP & Pres Neuroscience of the company, disposed of 2,000 shares for $87.97 on Jul 14. It resulted in a $175,940 divestment by the insider. TEN HOEDT ROB sold 5,514 shares at an average price of $86.58 on Jul 10. The insider now owns 43,802 shares following the transaction. On Jan 30, 10% Owner Medtronic plc bought 6,835 shares at $9.28 apiece. The transaction was valued at $63,436.
Valuation Metrics
Right now, Medtronic plc (MDT) has a P/E ratio of about 29.79. The stock’s beta is 0.72. Besides these, the trailing price-to-sales (P/S) ratio of 3.59, the price-to-book (PB) ratio of 2.17, and the price-to-cash flow ratio of 116.32 may also be considered.
The latest dividend of $0.69 per share was paid out, which is 1.47% more than last year’s $0.68. On Wednesday May 24 2023, a $0.01 dividend increase was announced.
Financial Health
In the three months ended April 29, Medtronic plc’s quick ratio stood at 1.80, while its current ratio was 2.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending April 29 was 0.47, and the total debt-to-equity ratio was 0.47. On the profitability front, the trailing twelve-month gross margin is 66.00% percent. In the year ended April 29, operating margins totaled 17.40%. Based on annual data, MDT earned $20.51 billion in gross profit and brought in $31.23 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 5.10%. Return on equity (ROE) for the past 12 months was 7.20%.
In Medtronic plc’s quarter-end financial report for April 29, it reported total debt of $24.34 billion against cash and short-term investments of $6.42 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MDT’s revenue rose 5.33% to $7.73 billion during the quarter, while net income inched up to $8.54 billion. While analysts expected Medtronic plc to report $1.56 quarterly earnings, the actual figure was $1.57 per share, beating the consensus estimate by 0.60%. During the quarter, the company generated $2.25 billion in EBITDA. The liabilities of Medtronic plc were 39.28 billion at the end of its most recent quarter ended April 29, and its total debt was $25.41 billion. The value of shareholders’ equity is $1.33 billion.
Technical Picture
This quick technical analysis looks at Medtronic plc’s (MDT) price momentum. With a historical volatility rate of 17.92%, the RSI 9-day stood at 27.93% on 04 August.
With respect to its five-day moving average, the current Medtronic plc price is down by -4.77% percent or -$4.21. At present, MDT shares trade -2.15% below its 20-day simple moving average and +7.77% percent above its 100-day simple moving average. However, the stock is currently trading approximately -3.55% below its SMA50 and +1.55% above its SMA200.
Stochastic coefficient K was 10.05% and Stochastic coefficient D was 25.78%, while ATR was 1.44. Given the Stochastic reading of 4.79% for the 14-day period, the RSI (14) reading has been calculated as 35.43%. As of today, the MACD Oscillator reading stands at -2.62, while the 14-day reading stands at -2.86.
Analyst Ratings
Robert W. Baird launched its rating on Medtronic plc (NYSE: MDT) to a Neutral in a note to investors on July 19, 2023. Medtronic plc (MDT) has been rated Overweight by analysts. According to 2 brokerage firms, MDT is a sell, and 14 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 7 analysts rate Medtronic plc stock as buy, with 9 recommending it as overweight.
With a median target price of $90.00, the current consensus forecast for the stock is $77.00 – $106.00. Based on these forecasts, analysts predict Medtronic plc (MDT) will achieve an average price target of $92.14.
