2,478 institutions hold shares in Medtronic plc (MDT), with 781.88k shares held by insiders accounting for 0.06% while institutional investors hold 83.44% of the company’s shares. The shares outstanding are 1.35B, and float is at 1.35B with Short Float at 0.56%. Institutions hold 83.39% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 111.29 million shares valued at $13.04 billion. The investor’s holdings represent 8.26% of the MDT Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 107.11 million shares valued at $12.55 billion to account for 7.95% of the shares outstanding. The other top investors are State Street Corporation which holds 55.93 million shares representing 4.15% and valued at over $6.55 billion, while Massachusetts Financial Services Co. holds 3.74% of the shares totaling 50.41 million with a market value of $5.91 billion.
Medtronic plc (NYSE: MDT) is 1.72% higher on its value in year-to-date trading and has touched a low of $81.33 and a high of $120.53 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MDT stock was last observed hovering at around $118.56 in the last trading session, with the day’s gains setting it 0.6% off its average median price target of $135.00 for the next 12 months. It is also 20.56% off the consensus price target high of $150.00 offered by 26 analysts, but current levels are 3.9% higher than the price target low of $124.00 for the same period.
Currently trading at $119.16, the stock is 1.35% and 1.87% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.28 million and changing 0.51% at the moment leaves the stock 10.55% off its SMA200. MDT registered 32.56% gain for a year compared to 6-month gain of 15.51%. The firm has a 50-day simple moving average (SMA 50) of $117.57 and a 200-day simple moving average (SMA200) of $112.56.
The stock witnessed a 1.87% loss in the last 1 month and extending the period to 3 months gives it a 4.50%, and is 1.99% 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 2.05% over the week and 1.84% over the month.
Medtronic plc (MDT) has around 90000 employees, a market worth around $157.95B and $27.93B in sales. Current P/E ratio is 56.39 and Fwd P/E is 20.81. Profit margin for the company is 10.40%. Distance from 52-week low is 46.51% and -1.13% 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 “Buy”. 26 analysts offering their recommendations for the stock have an average rating of 1.90, where 5 rate it as a Hold and 2 think it is a “Overweight”. 19 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Medtronic plc is expected to release its quarterly report on 05/27/2021 and quarterly earnings per share for the current quarter are estimated at $1.42 with sales reaching $8.13B over the same period.The EPS is expected to grow by 2.30% this year, but quarterly earnings will post 3.70% year-over-year. Quarterly sales are estimated to grow 35.60% in year-over-year returns.
Medtronic plc (MDT) Insider Activity
A total of 32 insider transactions have happened at Medtronic plc (MDT) in the last six months, with sales accounting for 21 and purchases happening 11 times. The most recent transaction is an insider sale by PARKHILL KAREN L, the company’s EVP & Chief Financial Officer. SEC filings show that PARKHILL KAREN L sold 632 shares of the company’s common stock on Mar 15 at a price of $119.12 per share for a total of $75284.0. Following the sale, the insider now owns 86556.0 shares.
Medtronic plc disclosed in a document filed with the SEC on Mar 02 that TEN HOEDT ROB (EVP & President EMEA) sold a total of 7,168 shares of the company’s common stock. The trade occurred on Mar 02 and was made at $117.98 per share for $0.85 million. Following the transaction, the insider now directly holds 43797.0 shares of the MDT stock.
Still, SEC filings show that on Dec 28, Surface Carol A (SVP, Chief HR Officer) disposed off 15,000 shares at an average price of $114.90 for $1.72 million. The insider now directly holds 34,150 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 60.86% up over the past 12 months and Johnson & Johnson (JNJ) that is 34.82% higher over the same period. Abbott Laboratories (ABT) is 63.94% up on the 1-year trading charts. Short interest in the company’s stock has risen 4.13% from the last report on Feb 11, 2021 to stand at a total of 7.2 million short shares sold with a short interest ratio of 1.53.