Over the past 12 fiscal quarters, Medtronic plc (NYSE:MDT) has topped consensus earnings estimates in 11 quarters (91%), missed earnings in 0 quarters (0%), whereas at 1 occasion EPS met analyst expectations. Shares of Medtronic plc (MDT) have dropped -6.7% since the company’s Jul-19 earnings report.MDT last reported earnings on November 20, 2018 when it released Oct-18 results that exceeded expectations. The company raked in $1.22 per share, -80.91% change on the same period last year. That was better than consensus for $1.15. Revenue for the recent quarter stood at $7.48 billion, up 6% on last year and above the $7.35 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $7.5 billion to $7.78 billion, which should be compared with $7.67 billion generated last year. EPS is seen in a range of $1.22 to $1.34, against the $1.26 reported a year ago.
MDT’s 50 day simple moving average (SMA 50) price is $91.62 and its 200-day simple moving average (SMA 200) price is $89.45. The company’s stock currently has a total float of 1.34B shares. Its weekly volatility is hovering around 3.55% and felt 2.96% volatility in price over a month. On the upside, the share price will test short term resistance at around $85.39. On a downside, the stock is likely to find some support, which begins at $83.82. The failure to get near-term support could push it to $82.79.
Separately, it has been reported that multiple insider activity took place at Medtronic plc (MDT). Chairman & CEO Ishrak Omar acquired 12,000 shares for $588,337 in transaction occurred on 2019/01/09. After making this transaction, the Chairman & CEO owns a direct stake of 1,008,600 shares, worth $49,914,511, as per the last closing price. On 2019/01/09 Parkhill Karen L, EVP & CFO at MDT, purchased 3,000 shares at an average price of $83.87 per share. The new stake is valued at $7,099,411.
EVP & GroupPres Restora Therap, Martha Geoffrey had divested 49,799 shares for $59,202 through a trade on 2018/09/24. Following this activity, the insider holds 4,876,816 shares worth $5,022,698 as of recent close. Wall Street’s most bullish Medtronic plc (NYSE:MDT) analysts are predicting the share price to blow past $120 per share during the next 12 months. The current median share price forecast by them is $104, suggesting that the stock could increase 22.58% in that time frame. The average price target of $104.24 calls for a nearly 22.87% increase in the stock price.
It had seen a new analyst call from Deutsche Bank, which initiated the stock at Buy on January 03. Analysts at Citigroup, shed their positive views on January 02 by lowering it fromBuy to Neutral. The stock won favor of JP Morgan analysts who expressed their confidence in it using an upgrade from Neutral to Overweight on December 19. UBS, released new analyst coverage on November 28, calling the stock is Buy.
When looking at valuations, Medtronic plc (MDT) has a cheap P/E of 24.57x as compared to industry average of 30.69x. Moreover, it trades for 15.31 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.31x price/book and 3.77x price/sales. It’s also very liquid in the near term, with a current ratio of 2.6. The stock has a debt/capital of 0.5.
Medtronic plc (NYSE:MDT) recently claimed $114.47B as the price has approached $84.84. There came a 0.64% growth with the closing bell on Thursday. The stock remained range bound between $83.34 and $84.91. Trading activity significantly weakened as the volume at ready counter decreased to 5,184,113 shares versus 7,328,750 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 9,226,028 shares. The stock is now 11.03% above against its bear-market low of $76.41 on March 23, 2018. It has retreated -18.05% since it’s 52-week high of $100.15 reached in September. Now the market price is down -1.21% on the year and down -6.73% YTD.