Medtronic plc (NYSE:MDT) saw an upside of 0.11% to close Monday at $81.61 after adding $0.09 on the day. The 5-day average trading volume is 4,568,040 shares of the company’s common stock. It has gained $83.32 in the past week and touched a new high 1 time within the past 5 days. An average of 4,562,260 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,774,046.
MDT’s 1-month performance is -8.26% or -$7.35 on its low of $81.23 reached on 08/21/23. The company’s shares have touched a 52-week low of $75.76 and high of $95.60, with the stock’s rally to the 52-week high happening on 05/03/23. YTD, MDT has achieved 5.01% or $3.89 and has reached a new high 13 times. However, the current price is down -14.63% from the 52-week high price.
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Insider Transactions
MDT stock investors last saw insider trading activity on Aug 14.Wall Brett A. (EVP & Pres Neuroscience) most recently sold 1,000 shares at $83.38 per share on Aug 14. This transaction cost the insider $83,380. EVP & President, Surgical OU, Marinaro Michael, sold 1,352 shares at a price of $84.11 on Aug 04. Then, on Jul 14, EVP & Pres Neuroscience Wall Brett A. sold 2,000 shares at a price of $87.97 per share. This transaction amounted to $175,940.
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 3.48 while the price-to-book (PB) in the most recent quarter is 2.11, with the price to cash flow ratio at 23.73.
Medtronic plc’s quick ratio for the recent period was 1.80, with the current ratio over the same period at 2.40. In terms of profitability, the gross margin trailing 12 months is 66.00%. The trailing 12-month EBITDA margin is 26.28%. The firm’s gross profit as reported stood at $20.51 billion against revenue of $31.23 billion.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -25.85% to $1.18 billion, while revenue of $1.22 billion was -3.56% off the previous quarter. EBITDA for the quarter stood at more than $2.25 billion. MDT stock balance sheet for the recent quarter shows that total liabilities totaled 39.28 billion, with total debt at $25.41 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 21 August was 27.62% to suggest the stock is trending oversold, with historical volatility in this time period at 9.91%.
The stock’s 5-day moving average is $81.82, reflecting a -1.86% or -$1.55 change from its current price. MDT is currently trading -8.06% above its 20-day SMA, +2.64% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -1.79% and SMA200 by-6.99%.
Stochastic %K and %D was 3.94% and 3.74% and the average true range (ATR) pointed at 1.16. The RSI (14) points at 32.50%, while the 14-day stochastic is at 6.22% with the period’s ATR at 1.24. The stock’s 9-day MACD Oscillator is pointing at -0.86 and -1.49 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Medtronic plc (NYSE: MDT), Robert W. Baird launched coverage with a Neutral rating. Analysts offering their rating for MDT stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate MDT as a “sell,”, while 14 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 7 rates the stock as overweight while 10 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 $77.00 and a high of $106.00, with their median price target at $90.00. Looking at these predictions, the average price target given by analysts is for Medtronic plc (MDT) stock is $92.14.
