In the last trading session, 5.46 million shares of the Medtronic plc (NYSE:MDT) were traded, and its beta was 0.72. Most recently the company’s share price was $87.13, and it changed around -$2.37 or -2.65% from the last close, which brings the market valuation of the company to $115.52B. MDT currently trades at a discount to its 52-week high of $106.06, offering almost -21.73% off that amount. The share price’s 52-week low was $75.76, which indicates that the current value has risen by an impressive 13.05% since then. We note from Medtronic plc’s average daily trading volume that its 10-day average is 4.81 million shares, with the 3-month average coming to 5.92 million.
Medtronic plc stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 2 out of 30 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 14 recommended MDT as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Medtronic plc is expected to report earnings per share of $1.56 for the current quarter.
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Medtronic plc (NYSE:MDT) trade information
Instantly MDT has showed a red trend with a performance of -2.65% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 89.91 on Tuesday, 05/23/23 increased the stock’s daily price by 3.09%. The company’s shares are currently up 12.11% year-to-date, but still down -1.99% over the last five days. On the other hand, Medtronic plc (NYSE:MDT) is -2.85% down in the 30-day period. We can see from the shorts that 11.41 million shares have been sold at a short interest cover period of 1.81 day(s).
The consensus price target as assigned by Wall Street analysts is $89.90, which translates to bulls needing to increase their stock price by 3.08% from its current value. Analyst projections state that MDT is forecast to be at a low of $79.00 and a high of $104.00. In order for the stock price to hit the forecast high, the stock would need to plunge -19.36% from its current level, while the stock would need to crash 9.33% from its current level to reach the projected low.
Medtronic plc (MDT) estimates and forecasts
Medtronic plc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 7.17 percent over the past six months and at a -4.86% annual growth rate that is well below the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 2.60% in revenue this quarter, and will report an increase of 0.90% in the next quarter. The year-over-year growth rate is expected to be -2.40%, down from the previous year.
Consensus estimates provided by 22 financial analysts predict the company will bring in an average of $8.25 billion in revenue for the current quarter. 13 analysts expect Medtronic plc to make $7.67 billion in revenue for the quarter ending Jul 2023. The company’s sales for the same quarters a year ago were $8.09 billion and $7.37 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 2.00%. Forecasts for the next quarter put sales growth at 4.10%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.20%. Medtronic plc earnings are expected to increase by 44.20% in 2023, but the outlook is positive 1.04% per year for the next five years.
Medtronic plc’s next quarterly earnings report is expected to be released on May 25. The annual dividend yield of the stock is 3.12 percent and its annual dividend per share was 2.72. It is important to note, however, that the 3.12% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Medtronic plc (NYSE:MDT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.09% of Medtronic plc shares, and 84.54% of them are in the hands of institutional investors. The stock currently has a share float of 84.62%. Medtronic plc stock is held by 2,714 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.44% of the shares, which is about 125.63 million shares worth $10.13 billion.
Blackrock Inc., with 8.85% or 117.69 million shares worth $9.49 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 40.44 million shares worth $3.14 billion, making up 3.04% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 30.73 million shares worth around $2.39 billion, which represents about 2.31% of the total shares outstanding.