One of the most dreaded feelings for an investor is when the stock they just bought is overvalued, or they missed out on an undervalued opportunity by not acting fast enough.

But what if you had the insights to effectively evaluate a company like Medtronic PLC before investing? Investing requires a certain perspective to avoid being overly confident in a company or worried about cyclical changes. A smart way to take the guesswork out of knowing when to buy or sell Medtronic PLC’s stock is to have the right tools and resources as well as a clear monitoring process.

In this article, we go over a few key elements for understanding Medtronic PLC’s stock price such as:

• Current stock price and volume
• Stock price history
• Upgrades and downgrades from analysts
• Stock price momentum as measured by its relative strength

About Medtronic PLC (MDT)

Before we jump into Medtronic PLC’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

Medtronic plc is a global healthcare technology company. The Company develops, manufactures, and markets its medical devices and technologies to hospitals, physicians, clinicians, and patients. Its operating segments include Cardiovascular, Medical Surgical, Neuroscience and Diabetes. Cardiovascular products include pacemakers, insertable cardiac monitors, and cardiac resynchronization therapy devices. Medical Surgical products include patient care from diagnosis to recovery, with a focus on diseases of the gastrointestinal tract, lungs, pelvic region, kidneys, obesity, and preventable complications. Neuroscience products include various spinal implants, bone graft substitutes, biologic products, image-guided surgery and intra-operative imaging systems. Diabetes products include insulin pumps, continuous glucose monitoring (CGM) systems, consumables, and smart insulin pen systems. It also provides PROPEL and SINUVA. The Company is focused on cardiac ablation portfolio.

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Medtronic PLC’s Stock Price as of Market Close

As of April 24, 2023, 4:00 PM CST, Medtronic PLC’s stock price was $89.69.

Medtronic PLC is up 4.62% from its previous closing price of $85.73.

During the last market session, Medtronic PLC’s stock traded between $83.60 and $88.13. Currently, there are 1,330.20 million shares of Medtronic PLC stock available for purchase.

Medtronic PLC’s price-earnings (P/E) ratio is currently at 28.2, which is low compared to the Medical Equipment, Supplies & Distribution industry median of 43.2. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Medtronic PLC Stock Price History

Medtronic PLC’s (MDT) price is currently up 11.25% so far this month.

During the month of April, Medtronic PLC’s stock price has reached a high of $89.78 and a low of $79.05.

Over the last year, Medtronic PLC has hit prices as high as $111.82 and as low as $75.77. Year to date, Medtronic PLC’s stock is down 13.3%.

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What Caused Medtronic PLC Stock’s Price to Rise?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

One of the most common factors that can drastically impact a stock’s price is analyst upgrades and downgrades. When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of April 21, 2023, there were 2 analysts who downgraded Medtronic PLC’s stock and 1 analyst who upgraded over the last month.

Additionally, you'll want to evaluate Medtronic PLC’s financial health and valuation. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others.

Therefore, AAII developed a composite valuation to help resolve such issues. AAII’s Value Grade analyzes six distinct variables: price-to-sales (P/S) ratio, price-earnings (P/E) ratio, the ratio of enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), shareholder yield, price-to-book-value (P/B) ratio and price-to-free-cash-flow (P/FCF) ratio.

Medtronic PLC’s current valuation based on AAII’s Value Grade is a D, which means it is considered to be Expensive.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Medtronic PLC (MDT) by visiting AAII Stock Evaluator.

Relative Price Strength of Medtronic PLC

Relative price strength addresses the relationship between a stock price’s trend and the price trend of the market. This ratio is expressed as a percentage and helps investors understand a company’s momentum as well as its value. You can use relative price strength to select investments that have been outperforming the market or a specific benchmark.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. The weighted four-quarter relative price strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40%, and each of the three previous quarters are given a weighting of 20%.

As of April 21, 2023, Medtronic PLC has a weighted four-quarter relative price strength of -3.65%, which translates to a Momentum Score of 49 and is considered to be Average.

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Medtronic PLC Stock Price: Bottom Line

As of April 24, 2023, Medtronic PLC’s stock price is $89.69, which is up 4.62% from its previous closing price.

At AAII, we stress that investors should never buy or sell a stock solely based on its stock price. Past returns do not guarantee future performance. Therefore, you should consider multiple ratios, fundamentals and analytics before making a decision. Whether you decide it’s a good time to buy or sell Medtronic PLC’s stock based on its stock price forecast is ultimately up to you.

It’s important to understand that stock prices are driven by a variety of factors, but ultimately the price at any given moment is due to the supply and demand in the market. Stock price overviews, like the one you just read, only give you a small snapshot of a company’s performance, value and momentum.

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