During the recent session, Medtronic plc (NYSE:MDT)’s traded shares were 0.9 million, with the beta value of the company hitting 0.75. At the last check today, the stock’s price was $102.50, reflecting an intraday gain of 1.37% or $1.39. The 52-week high for the MDT share is $135.89, that puts it down -32.58 from that peak though still a striking 4.02% gain since the share price plummeted to a 52-week low of $98.38. The company’s market capitalization is $137.08B, and the average trade volume was 6.04 million shares over the past three months.
Medtronic plc (MDT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. MDT has a Sell rating from 0 analyst(s) out of 25 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 5 suggest Overweight, and 11 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.56.
Medtronic plc (NYSE:MDT) trade information
Medtronic plc (MDT) registered a 1.37% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.37% in intraday trading to $102.50 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -3.29%, and it has moved by -8.56% in 30 days. Based on these gigs, the overall price performance for the year is -18.58%.
The consensus price target of analysts on Wall Street is $123.20, which implies an increase of 16.8% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $105.00 and $149.00 respectively. As a result, MDT is trading at a discount of -45.37% off the target high and -2.44% off the low.
Medtronic plc (MDT) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 4.00% this quarter and then drop -0.70% in the quarter after that. In the rating firms’ projections, revenue will increase 6.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $8.44 billion as predicted by 22 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $8.16 billion by the end of Jul 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $8.19 billion and $7.87 billion respectively. In this case, analysts expect current quarter sales to grow by 3.00% and then jump by 3.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 0.80%. While earnings are projected to return -26.10% in 2022, the next five years will return 12.16% per annum.
Medtronic plc is due to release its next quarterly earnings on May 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Medtronic plc is 2.52, with the dividend yield indicating at 2.49 percent, continuing the trend of increasing dividends in recent years.
Medtronic plc (NYSE:MDT)’s Major holders
Medtronic plc insiders own 0.24% of total outstanding shares while institutional holders control 83.83%, with the float percentage being 84.04%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 2,846 institutions own stock in it. As of Dec 30, 2021, the company held over 113.15 million shares (or 8.43% of all shares), a total value of $11.71 billion in shares.
The next largest institutional holding, with 107.9 million shares, is of Blackrock Inc.’s that is approximately 8.04% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $11.16 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Medtronic plc (MDT) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 38.22 million shares. This amounts to just over 2.85 percent of the company’s overall shares, with a $3.95 billion market value. The same data shows that the other fund manager holds slightly less at 28.5 million, or about 2.12% of the stock, which is worth about $2.95 billion.