What should you know before buying stock in Medtronic plc (MDT)

Medtronic plc (NYSE: MDT) is -9.57% lower on its value in year-to-date trading and has touched a low of $72.13 and a high of $122.15 in the current 52-week trading range. The MDT stock was last observed hovering at around $100.13 in the last trading session, with the day’s gains setting it 2.46% off its average median price target of $110.00 for the next 12 months. It is also 21.08% off the consensus price target high of $130.00 offered by 25 analysts, but current levels are -13.99% lower than the price target low of $90.00 for the same period.

Currently trading at $102.59, the stock is 3.42% and 7.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.15 million and changing 2.46% at the moment leaves the stock 0.31% off its SMA200. MDT registered -4.02% loss for a year compared to 6-month loss of -3.35%. The firm has a 50-day simple moving average (SMA 50) of $0.58% and a 200-day simple moving average (SMA200) of $8.73M.

The stock witnessed a 6.39% gain in the last 1 month and extending the period to 3 months gives it a 6.86%, and is 1.01% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.91% over the week and 1.86% over the month.

Medtronic plc (MDT) has around 90000 employees, a market worth around $139.97B and $28.91B in sales. Current P/E ratio is 29.34 and Fwd P/E is 18.38. Profit margin for the company is 16.60%. Distance from 52-week low is 42.23% and -16.01% from its 52-week high. The company has generated returns on investments over the last 12 months (6.70%).

Medtronic plc (MDT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Medtronic plc (MDT) is a “Overweight”. 25 analysts offering their recommendations for the stock have an average rating of 2.00, where 4 rate it as a Hold and 2 think it is a “Overweight”. 18 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Medtronic plc is expected to release its quarterly report on 11/24/2020 and quarterly earnings per share for the current quarter are estimated at $0.82 with sales reaching $6.89B over the same period.The EPS is expected to grow by 2.30% this year, but quarterly earnings will post -1.70% year-over-year.

Medtronic plc (MDT) Top Institutional Holders

2,420 institutions hold shares in Medtronic plc (MDT), with 965.74k shares held by insiders accounting for 0.07% while institutional investors hold 85.88% of the company’s shares. The shares outstanding are 1.34B, and float is at 1.34B with Short Float at 0.58%. Institutions hold 85.82% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 113.11 million shares valued at $10.37 billion. The investor’s holdings represent 8.42% of the MDT Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 111.21 million shares valued at $10.2 billion to account for 8.28% of the shares outstanding. The other top investors are State Street Corporation which holds 58.87 million shares representing 4.38% and valued at over $5.4 billion, while Wellington Management Company, LLP holds 3.89% of the shares totaling 52.21 million with a market value of $4.79 billion.

Medtronic plc (MDT) Insider Activity

A total of 53 insider transactions have happened at Medtronic plc (MDT) in the last six months, with sales accounting for 27 and purchases happening 26 times. The most recent transaction is an insider sale by Surface Carol A, the company’s SVP, Chief HR Officer. SEC filings show that Surface Carol A sold 2,000 shares of the company’s common stock on May 29 at a price of $97.72 per share for a total of $0.2 million. Following the sale, the insider now owns 47443.0 shares.

Medtronic plc disclosed in a document filed with the SEC on Feb 20 that ISHRAK OMAR (Chairman & CEO) bought a total of 8,771 shares of the company’s common stock. The trade occurred on Feb 20 and was made at $113.68 per share for $1.0 million. Following the transaction, the insider now directly holds 0.61 million shares of the MDT stock.

Still, SEC filings show that on Dec 24, Kuntz Richard (SVP & Chief Medical & Science) disposed off 50,856 shares at an average price of $113.58 for $5.78 million. The insider now directly holds 71,013 shares of Medtronic plc (MDT).

Medtronic plc (MDT): Who are the competitors?

The company’s main competitors (and peers) include Integra LifeSciences Holdings Corporation (IART) that is trading -21.52% down over the past 12 months. Abbott Laboratories (ABT) is 23.28% up on the 1-year trading charts.