Medtronic Plc (NYSE:MDT) shares, rose in value, with the stock price up by 0.42% to the previous day’s close as strong demand from buyers drove the stock to $92.59.
Actively observing the price movement in the recent trading, the stock is buoying the session at $92.20, falling within a range of $92.35 and $92.91. The value of beta (5-year monthly) is 0.853 whereas the PE ratio is 28.26 over 12-month period. Referring to stock’s 52-week performance, its high was $93.08, and the low was $75.96. On the whole, MDT has fluctuated by 8.42% over the past month.
With the market capitalization of Medtronic Plc currently standing at about $118.73 billion, investors are eagerly awaiting this quarter’s results, scheduled for in March. The company’s Forward Dividend Ratio is 2.79, with its dividend yield at 3.01%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 33.57B, with a low estimate of 8.28B and a high estimate of 8.39B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 8.33B.
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 100% Buy on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.30, with the price of MDT currently trading nearly 2.05% and 8.12% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.17, while the 7-day volatility ratio is showing 1.52% which for the 30-day chart, stands at 1.68%. Furthermore, Medtronic Plc (MDT)’s beta value is 0.83, and its average true range (ATR) is 1.44.
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 0.42% in today’s session so far, and over the past year, it grew by 10.77%%.
Data on historical trading for Medtronic Plc (NYSE:MDT) indicates that the trading volumes over the past 10 days have averaged 5.89 and over the past 3 months, they’ve averaged 6.73 million. According to company’s latest data on outstanding shares, there are 1.28 billion shares outstanding.
Nearly 0.12% of Medtronic Plc’s shares belong to company insiders and institutional investors own 84.74% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.18 million shares as on 2024-10-31, resulting in a short ratio of 2.19. According to the data, the short interest in Medtronic Plc (MDT) stood at 80.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 10.67 million. The stock has risen by 15.91% 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.
