As of Thursday close, Medtronic plc’s (NYSE:MDT) stock was down -$0.81, moving down -0.98 percent to $81.50. The average number of shares traded per day over the past five days has been 4,162,500 shares. 2 times new highs have been achieved over the past 5 days, with a $0.44 gain in that time frame. In the last twenty days, the average volume was 4,909,755, while in the previous 50 days, it was 4,633,506.
Since last month, MDT stock retreated -4.63%. Shares of the company fell to $81.00 on 08/24/23, the lowest level in the past month. A 52-week high of $92.39 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 4.86% or $3.78, and marked a new high 13 times. However, the stock has declined by -11.79% since its 52-week high.
MDT stock investors should be aware that Medtronic plc (MDT) stock had its last reported insider trading activity 9 days ago on Aug 23. Smith Gregory L, the EVP Global Ops & Supply Chain of the company, disposed of 10,000 shares for $83.84 on Aug 23. It resulted in a $838,400 divestment by the insider. Wall Brett A. sold 1,000 shares at an average price of $83.38 on Aug 14. The insider now owns 33,573 shares following the transaction. On Aug 04, EVP & President, Surgical OU Marinaro Michael sold 1,352 shares at $84.11 apiece. The transaction was valued at $113,717.
Valuation Metrics
Right now, Medtronic plc (MDT) has a P/E ratio of about 30.01. The stock’s beta is 0.72. Besides these, the trailing price-to-sales (P/S) ratio of 3.39, the price-to-book (PB) ratio of 2.11, and the price-to-cash flow ratio of 25.68 may also be considered.
The latest dividend of $0.69 per share was paid out, remained unchanged from last year’s $0.69.
Financial Health
In the three months ended July 30, 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 July 30 was 0.47, and the total debt-to-equity ratio was 0.47. On the profitability front, the trailing twelve-month gross margin is 65.90% percent. In the year ended July 30, EBITDA margin amounted to 26.28%, whereas operating margins totaled 17.50%. 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 7.80%.
In Medtronic plc’s quarter-end financial report for July 30, it reported total debt of $24.34 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 $1.11 quarterly earnings, the actual figure was $1.2 per share, beating the consensus estimate by 8.10%. 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 July 30, and its total debt was $24.98 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 24.42%, the RSI 9-day stood at 40.67% on 31 August.
With respect to its five-day moving average, the current Medtronic plc price is up by +0.54% percent or $0.44. At present, MDT shares trade -3.54% below its 20-day simple moving average and +1.57% percent above its 100-day simple moving average. However, the stock is currently trading approximately -7.72% below its SMA50 and -2.45% below its SMA200.
Stochastic coefficient K was 24.45% and Stochastic coefficient D was 23.49%, while ATR was 1.42. Given the Stochastic reading of 12.69% for the 14-day period, the RSI (14) reading has been calculated as 40.56%. As of today, the MACD Oscillator reading stands at -0.21, while the 14-day reading stands at -0.19.
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 10 recommending it as overweight.
With a median target price of $90.00, the current consensus forecast for the stock is $80.00 – $104.00. Based on these forecasts, analysts predict Medtronic plc (MDT) will achieve an average price target of $92.94.
