In last trading session, Medtronic Plc (NYSE:MDT) saw 5.24 million shares changing hands with its beta currently measuring 0.79. Company’s recent per share price level of $82.17 trading at -$0.16 or -0.19% at ring of the bell on the day assigns it a market valuation of $109.11B. That closing price of MDT’s stock is at a discount of -11.99% from its 52-week high price of $92.02 and is indicating a premium of 16.22% from its 52-week low price of $68.84. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.21 million shares which gives us an average trading volume of 6.33 million if we extend that period to 3-months.
Medtronic Plc (NYSE:MDT) trade information
Upright in the red during last session for losing -0.19%, in the last five days MDT remained trading in the red while hitting it’s week-highest on Friday, 04/05/24 when the stock touched $82.17 price level, adding 2.96% to its value on the day. Medtronic Plc’s shares saw a change of -0.25% in year-to-date performance and have moved -2.09% in past 5-day. Medtronic Plc (NYSE:MDT) showed a performance of -4.16% in past 30-days. Number of shares sold short was 11.53 million shares which calculate 1.64 days to cover the short interests.
Medtronic Plc (MDT) estimates and forecasts
Statistics highlight that Medtronic Plc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 7.86% of value to its shares in past 6 months, showing an annual growth rate of -1.70% while that of industry is 18.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -7.60% in the current quarter and calculating 3.30% increase in the next quarter. This year revenue growth is estimated to rise 3.20% from the last financial year’s standing.
25 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $8.44 billion for the same. And 15 analysts are in estimates of company making revenue of $8 billion in the next quarter that will end on Jul 2024.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 4.43% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -1.78% while estimates for its earnings growth in next 5 years are of 3.48%.
MDT Dividends
Medtronic Plc is more likely to be releasing its next quarterly report on May 23 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Medtronic Plc (NYSE:MDT)’s Major holders
Insiders are in possession of 0.11% of company’s total shares while institution are holding 85.22 percent of that, with stock having share float percentage of 85.31%. Investors also watch the number of corporate investors in a company very closely, which is 85.22% institutions for Medtronic Plc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at MDT for having 125.84 million shares of worth $11.09 billion. And as of Jun 29, 2023, it was holding 9.46% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 114.95 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.64% of outstanding shares, having a total worth of $10.13 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 41.5 million shares of worth $3.66 billion or 3.12% of the total outstanding shares. The later fund manager was in possession of 31.68 million shares on Jun 29, 2023, making its stake of worth around $2.79 billion in the company or a holder of 2.38% of company’s stock.
