Chairman & CEO Ishrak Omar acquired 12,000 shares in Medtronic plc (NYSE:MDT) 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 $53,097,414, 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 $7,552,120.
Separately, it had been reported that some other MDT insiders also took part of the insider trading activity. 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 $5,342,981 as of recent close. Wall Street’s most bullish Medtronic plc (NYSE:MDT) analysts are predicting the share price to blow past $117 per share during the next 12 months. The current median share price forecast by them is $104, suggesting that the stock could increase 15.24% in that time frame. The average price target of $102.75 calls for a nearly 13.85% increase in the stock price.
Medtronic plc (MDT) trading activity significantly weakened as the volume at ready counter decreased to 3,678,150 shares versus 5,399,170 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 6,307,400 shares. The share price rose 0.73% in recent trade and currently has a stock-market value of $121.77B. The shares finished at $90.25, after trading as low as $89.27 earlier in the session. It hit an intraday high Tuesday at $90.52. The stock is now 18.11% above against its bear-market low of $76.41 on March 23, 2018. It has retreated -10.97% since it’s 52-week high of $100.15 reached in September. Now the market price is up 13.55% on the year and down -0.78% YTD.
MDT’s 50 day simple moving average (SMA 50) price is $89.51 and its 200-day simple moving average (SMA 200) price is $90.35. The company’s stock currently has a total float of 1.34B shares. Its weekly volatility is hovering around 1.33% and felt 1.52% volatility in price over a month. On the upside, the share price will test short term resistance at around $90.76. On a downside, the stock is likely to find some support, which begins at $89.51. The failure to get near-term support could push it to $88.76.
It had seen a change in price target from analysts at Needham, who reiterated the stock at Strong Buy on February 04 but moved PT from $120 to $117. Analysts at Deutsche Bank, started covering the stock on January 03 with a Buy rating. The stock lost favor of Citigroup analysts who expressed their lack of confidence in it using a downgrade from Buy to Neutral on January 02. JP Morgan analysts came out with bullish views on December 19 when the call was made. They think the stock is now Overweight compared to to their prior call for Neutral.
When looking at valuations, Medtronic plc (MDT) has a cheap P/E of 26.14x as compared to industry average of 32.36x. Moreover, it trades for 16.5 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.45x price/book and 4.01x 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.
Shares of Medtronic plc (MDT) have dropped -0.9% since the company’s last earnings report. 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. 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 $7.47 billion to $7.78 billion, which should be compared with $7.67 billion generated last year. EPS is seen in a range of $1.17 to $1.32, against the $1.26 reported a year ago.