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Is Medtronic Plc (MDT) a good stock to buy now?

Medtronic Plc (NYSE: MDT) is 3.42% higher on its value in year-to-date trading and has touched a low of $68.84 and a high of $92.02 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 $87.02 in the last trading session, with the day’s loss setting it -1.82%.

Currently trading at $85.20, the stock is 0.47% and -0.11% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.01 million and changing -2.09% at the moment leaves the stock 3.77% off its SMA200. MDT registered 7.60% gain for a year compared to 6-month gain of 8.73%. The firm has a 50-day simple moving average (SMA 50) of $4.02 and a 200-day simple moving average (SMA200) of $14.59.

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The stock witnessed a 1.91% loss in the last 1 month and extending the period to 3 months gives it a 3.42%, and is 2.35% 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 1.71% over the week and 1.44% over the month.

Medtronic Plc (MDT) has around 95000 employees, a market worth around $113.13B and $32.32B in sales. Current P/E ratio is 27.02 and Fwd P/E is 15.63. Profit margin for the company is 13.00%. Distance from 52-week low is 23.77% and -7.41% from its 52-week high. The company has generated returns on investments over the last 12 months (5.53%).

Medtronic Plc quarterly earnings per share for the current quarter are estimated at $1.45 with sales reaching $8.44B over the same period.The EPS is expected to shrink by -1.78% this year, but quarterly earnings will post 3.20% year-over-year. Quarterly sales are estimated to shrink -1.20% in year-over-year returns.

Medtronic Plc (MDT) Top Institutional Holders

2,802 institutions hold shares in Medtronic Plc (MDT), with institutional investors hold 85.31% of the company’s shares. The shares outstanding are 1.33B, and float is at 1.33B with Short Float at 0.87%. Institutions hold 85.22% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 125.84 million shares valued at $11.09 billion. The investor’s holdings represent 9.46% of the MDT Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 114.95 million shares valued at $10.13 billion to account for 8.64% of the shares outstanding. The other top investors are State Street Corporation which holds 60.15 million shares representing 4.52% and valued at over $5.3 billion, while Massachusetts Financial Services Co. holds 2.71% of the shares totaling 36.0 million with a market value of $3.17 billion.

Medtronic Plc (MDT) Insider Activity

The most recent transaction is an insider sale by Salmon Sean,the company’sEVP & President Cardiovascular. SEC filings show that Salmon Sean sold 30,695 shares of the company’s common stock on Feb 21 ’24 at a price of $85.13 per share for a total of $2.61 million. Following the sale, the insider now owns 48289.0 shares.

Medtronic Plc disclosed in a document filed with the SEC on Dec 19 ’23 that Wall Brett A. (EVP & Pres Neuroscience) sold a total of 4,997 shares of the company’s common stock. The trade occurred on Dec 19 ’23 and was made at $82.17 per share for $0.41 million. Following the transaction, the insider now directly holds 28910.0 shares of the MDT stock.

Still, SEC filings show that on Aug 23 ’23, Smith Gregory L (EVP Global Ops & Supply Chain) disposed off 10,000 shares at an average price of $83.84 for $0.84 million. The insider now directly holds 46,723 shares of Medtronic Plc (MDT).

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