Medtronic plc (NYSE:MDT) in recent session today was buoying at a fall of -1.33% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $102.98 and 5Y monthly beta was reading 0.66 with its price kept floating in the range of $100.32 and $102.15 on the day. Company’s P/E ratio for the trailing 12 months is 31.77. Considering stock’s 52-week price range provides that MDT hit a high price of $122.15 and saw its price falling to a low level of $72.13 during that period. Over a period of past 1-month, stock came adding 2.85% in its value.
With its current market valuation of $138.7 Billion, Medtronic plc is set to declare its quarterly results on November 24, 2020. MDT Stock’s Forward Dividend of 2.32 and its yield of 0.0225 are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of $0.82 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving down to $4.04 for 2020 with estimates of that growing to $5.77 in next year. These estimates are suggesting current year growth of -0.12% for EPS and 0.43% growth next year.
In contrast, when we review MDT stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of Hold. Long term indicators are suggesting an average of Hold for it.
In comparing Medtronic plc (MDT)’s stock with other industry players reveals that stock’s latest price change of -1.33% and that of -6.18% over the past 12 months is in competing position with that of Abbott Laboratories (ABT) which saw its stock price fell by -0.11% in the recent trading and went through an increase of 24.61% in past 12-month trading. Industry’s another major player Stryker Corp (SYK) has fell -1.3% down in latest trading session, but over the past year has faced a fall of -7.15%, while Boston Scientific Corp (BSX) is also down -1.33% however its price remained floating in the red at -6.18% over the same period. Medtronic plc has a P/E ratio of 31.77 against that of Abbott Laboratories’s 59.42 while Stryker Corp is showing 48.08 for the same. On the other hand, the S&P 500 Index was up 0.66% in the early deals while the Dow Jones Industrial was dealing higher at 0.49%.
Having a second look at Medtronic plc (NYSE:MDT) provides that stock’s average daily trading volume for 3 months was 4.81 Million, while it dropped to 4.33 Million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock currently stood at 1.34 Billion.
Data compiled by Thomson Reuters highlights that percentage of outstanding shares held by the insiders is 0.07% while it is 85.82% for the institutional holders. The figures also indicate that as of August 30, 2020, number of stock’s short shares was 7290000 which implies a short ratio of 1.53. This shows up a 0.54% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short declined as it was 7.8 Million in the previous month. Drop of -9.23% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ worries about the stock as it is hinting a further drop.