Medtronic Plc (MDT) Volatility Spurs A Quest For Clarity

Currently, there are 1.33B common shares owned by the public and among those 1.33B shares have been available to trade.

However, the script later moved the day high at 85.90, down -2.09%. The company’s stock has a 5-day price change of 2.35% and 3.42% over the past three months. MDT shares are trading 3.42% year to date (YTD), with the 12-month market performance up to 7.60% higher. It has a 12-month low price of $68.84 and touched a high of $92.02 over the same period. MDT has an average intraday trading volume of 6.30 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.47%, -0.11%, and 3.77% respectively.

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Institutional ownership of Medtronic Plc (NYSE: MDT) shares accounts for 85.26% of the company’s 1.33B shares outstanding.

It has a market capitalization of $113.13B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 27.02, while the earnings-per-share (ttm) stands at $3.15. The company has a PEG of 7.77 and a Quick Ratio of 1.71 with the debt-to-equity ratio at 0.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.71% over the week and 1.44% over the month.

Earnings per share for the fiscal year are expected to decrease by -1.78%, and 4.90% over the next financial year. EPS should shrink at an annualized rate of 3.48% over the next five years, compared to 4.43% over the past 5-year period.

Looking at the support for the MDT, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on July 19, 2023, with the firm’s price target at $90. CL King coverage for the Medtronic Plc (MDT) stock in a research note released on June 30, 2023 offered a Buy rating with a price target of $106. Morgan Stanley was of a view on May 30, 2023 that the stock is Overweight, while Wells Fargo gave the stock Overweight rating on April 24, 2023, issuing a price target of $77- $100. UBS on their part issued Sell rating on March 29, 2023.

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