The stock of Medtronic plc (NYSE:MDT) decreased by -$0.08 on Tuesday to $83.08, down -0.10 percent. The last five days have seen an average of 3,320,714 shares of common stock traded. 13 times new highs were reached in the current year, with a gain of $5.37. The average number of shares traded over the last 20 days was 4,441,738, while the average volume over the last 50 days totaled 4,732,697.
MDT stock dropped -4.19% since last month. On 08/08/23, the company’s shares reached a one-month low of $81.55. The stock touched a high of $95.60 on 05/03/23, after rallying from a low of $75.76 in 52 weeks. The price of MDT stock has risen by 6.90% or $5.37 this year, reaching a new high 13 times. Still, the stock price is down -13.10% from the 52-week high.
Insider Transactions
MDT stock investors should be aware that Medtronic plc (MDT) stock had its last reported insider trading activity 11 days ago on Aug 04. On Aug 04, EVP & President, Surgical OU Marinaro Michael sold 1,352 shares at $84.11 each. This transaction resulted in the insider making $113,717. On Jul 14, Wall Brett A. sold 2,000 shares at a price of US$87.97. After the transaction, the insider now owns 23,948 shares. EVP and Pres. Global Regions TEN HOEDT ROB had earlier sold 5,514 shares on Jul 10 for $86.58 a share. The transaction was completed for $477,420.
Valuation Metrics
Medtronic plc (MDT) has a trailing price-to-earnings (P/E) ratio of 29.45. Beta for the stock is 0.72. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.53, the price-to-book (PB) ratio of 2.15, and the price-to-cash flow ratio of 24.04.
Company paid $0.69 per share in dividends, an increase of 1.47% from $0.68 last year. A $0.01 dividend increase was reported on Wednesday May 24 2023.
Financial Health
For the three months ended April 29, Medtronic plc’s quick ratio was 1.80, while its current ratio was 2.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending April 29 is 0.47, and the total debt to equity ratio is 0.47. As far as profitability goes, gross margin for the trailing twelve months is 66.00% percent. Medtronic plc’s EBITDA margin for the year ended April 29 was 26.28%, whereas its operating margin stood at 17.40% for the same period. Based on annual data, it had gross profit of $20.51 billion and revenue of $31.23 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MDT’s return on assets (ROA) during the last 12 months has been 4.10%. There was a 5.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 7.20%.
Earnings Surprise
According to Medtronic plc’s quarterly financial report for the quarter that ended April 29, it had $24.34 billion in total debt versus $6.42 billion in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $8.54 billion, while revenues rose by 5.33% to $7.73 billion. It was predicted that Medtronic plc’s quarterly earnings would be $1.57, but it ended up being $1.56, beating the consensus by 0.60%. EBITDA was $2.25 billion for the quarter. At the end of Medtronic plc’s most recent quarter ended April 29, its liabilities totaled 39.28 billion, while its total debt was $25.41 billion. Equity owned by shareholders amounts to $1.33 billion.
Technical Picture
Here’s a quick look at Medtronic plc’s (MDT) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 33.78%, suggesting the stock is Neutral, with a 17.55% historical volatility rate.
The stochastic %K and %D were 17.81% and 17.62% respectively, while the average true range (ATR) was 1.25. Based on the 14-day stochastic reading of 16.30%, the RSI (14) reading is 37.09%. On the 9-day MACD Oscillator, the stock is at -0.24, and the 14-day reading is at -1.69.
Analyst Ratings
In its analyst report released on July 19, 2023, Robert W. Baird began covering Medtronic plc (NYSE: MDT). The stock was rated as a Neutral by the brokerage firm. Analysts have assigned Medtronic plc (MDT) an Overweight rating. MDT is a stock that is recommended for selling by 2 brokerage firms, while 14 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 7 rates it overweight and 10 others recommend it as a buy.
What is MDT’s price target for the next 12 months?
The current consensus forecast for the stock is between $77.00 and $106.00, with a median target price of $90.00. In analyzing these forecasts, the average price target given by analysts for Medtronic plc (MDT) is $92.14.
