Medtronic Plc (NYSE:MDT) shares, rose in value, with the stock price up by 0.57% to the previous day’s close as strong demand from buyers drove the stock to $88.85.
Actively observing the price movement in the last trading, the stock closed the session at $88.35, falling within a range of $88.79 and $89.44. The value of beta (5-year monthly) was 0.854 whereas the PE ratio was 29.89 over 12-month period. Referring to stock’s 52-week performance, its high was $91.49, and the low was $68.84. On the whole, MDT has fluctuated by -1.66% over the past month.
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With the market capitalization of Medtronic Plc currently standing at about $113.95 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-19. The company’s Forward Dividend Ratio is 2.78, with its dividend yield at 3.13%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 33.62B, with a low estimate of 8.22B and a high estimate of 8.43B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 8.27B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MDT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 5.98, with the price of MDT currently trading nearly -0.23% and 1.86% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.37, while the 7-day volatility ratio is showing 1.13% which for the 30-day chart, stands at 1.23%. Furthermore, Medtronic Plc (MDT)’s beta value is 0.85, and its average true range (ATR) is 1.26.
A comparison of Medtronic Plc (MDT) with its peers suggests the former has fared considerably weaker in the market. MDT showed an intraday change of 0.57% in last session, and over the past year, it grew by 16.63%%.
Data on historical trading for Medtronic Plc (NYSE:MDT) indicates that the trading volumes over the past 10 days have averaged 4.08 and over the past 3 months, they’ve averaged 6.35 million. According to company’s latest data on outstanding shares, there are 1.31 billion shares outstanding.
Nearly 0.08% of Medtronic Plc’s shares belong to company insiders and institutional investors own 85.13% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.67 million shares as on 2024-09-30, resulting in a short ratio of 1.44. According to the data, the short interest in Medtronic Plc (MDT) stood at 83.00 of shares outstanding as of 2024-09-30; the number of short shares registered in 2024-08-30 reached 16.5 million. The stock has risen by 7.85% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MDT stock heading into the next quarter.
