Medtronic plc (NYSE: MDT)’s stock price has increased by 1.10 compared to its previous closing price of 78.41. but the company has seen a 1.63% gain in its stock price over the last five trading sessions. The Wall Street Journal reported on 02/21/23 that Medtronic Isn’t Out of the Woods Yet
Is It Worth Investing in Medtronic plc (NYSE: MDT) Right Now?
The price-to-earnings ratio for Medtronic plc (NYSE: MDT) is above average at 26.06x. The 36-month beta value for MDT is also noteworthy at 0.73. There are mixed opinions on the stock, with 8 analysts rating it as a “buy,” 4 rating it as “overweight,” 16 rating it as “hold,” and 1 rating it as “sell.”
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The average price estimated by analysts for MDT is $90.49, which is $14.47 above than the current price. The public float for MDT is 1.33B, and at present, short sellers hold a 0.89% of that float. The average trading volume of MDT on March 17, 2023 was 6.55M shares.
MDT’s Market Performance
The stock of Medtronic plc (MDT) has seen a 1.63% increase in the past week, with a -4.95% drop in the past month, and a -1.09% fall in the past quarter. The volatility ratio for the week is 2.67%, and the volatility levels for the past 30 days are at 2.10% for MDT. The simple moving average for the last 20 days is -3.01% for MDT stock, with a simple moving average of -7.19% for the last 200 days.
Analysts’ Opinion of MDT
Many brokerage firms have already submitted their reports for MDT stocks, with RBC Capital Mkts repeating the rating for MDT by listing it as a “Sector Perform.” The predicted price for MDT in the upcoming period, according to RBC Capital Mkts is $89 based on the research report published on January 09th of the current year 2023.
Oppenheimer, on the other hand, stated in their research note that they expect to see MDT reach a price target of $85, previously predicting the price at $106. The rating they have provided for MDT stocks is “Perform” according to the report published on November 23rd, 2022.
Citigroup gave a rating of “Neutral” to MDT, setting the target price at $85 in the report published on November 23rd of the previous year.
MDT Trading at -3.33% from the 50-Day Moving Average
After a stumble in the market that brought MDT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -30.65% of loss for the given period.
Volatility was left at 2.10%, however, over the last 30 days, the volatility rate increased by 2.67%, as shares sank -6.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.29% upper at present.
During the last 5 trading sessions, MDT rose by +1.63%, which changed the moving average for the period of 200-days by -19.99% in comparison to the 20-day moving average, which settled at $81.47. In addition, Medtronic plc saw 1.99% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MDT starting from Medtronic plc, who purchase 6,835 shares at the price of $9.28 back on Jan 30. After this action, Medtronic plc now owns 4,999,423 shares of Medtronic plc, valued at $63,436 using the latest closing price.
Salmon Sean, the EVP & President Cardiovascular of Medtronic plc, sale 16,631 shares at $80.50 during a trade that took place back on Dec 13, which means that Salmon Sean is holding 36,088 shares at $1,338,736 based on the most recent closing price.
Stock Fundamentals for MDT
Current profitability levels for the company are sitting at:
- +19.53 for the present operating margin
- +62.88 for the gross margin
The net margin for Medtronic plc stands at +15.91. Equity return is now at value 7.80, with 4.40 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.86.
Conclusion
In summary, Medtronic plc (MDT) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
