Medtronic stock: buy or sell
Apr 22nd, 2021
Medtronic stock brief
- After making new all-time highs on Wednesday, Medtronic closed at $130.25 climbing a 1.54%
- Medtronic gained a 5.35% in 7 consecutive sessions in positive
- The price is currently above the upper Bollinger band, which is usually an indicator of a short-term correction
- Atlantic Securities posted a bullish rating for Medtronic on Wednesday, with a target of $153.00
- Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide.
Should I buy Medtronic stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $MDT stock a buy?
Currently, Medtronic stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $MDT in the next few days, or that it may not climb higher. Simply, it doesn't match our recommended trading systems
Should I sell Medtronic stock?
"To sell or not to sell", if you are holding Medtronic shares?. Just as when we have to buy shares, determining when is appropiate to sell is not a fickle decision, and we must adhere our own trading style. Our trading system selects very simple setups to guide us on when is the best moment to sell our shares. Be aware that these setups are not intended for selling short Medtronic stock
A guiding principle is that you should never mantain a trading operation that yields losses greater than those expected upon the buy. When to sell shares should always be dictated by the stop-loss (automatic or manual)
Is it time to sell Medtronic stock?
In the current situation of Medtronic there is not any eligible sell setup, so Medtronic stock holders with operations in green can keep their positions
In the last 30 days, 2 analyst ratings were published for Medtronic. General sentiment is bullish, with 2 out of 2 posting positive forecasts
|Apr 15th, 2021|
|Apr 21st, 2021|
Medtronic stock analysis
Since in October 2020, Medtronic has been printing an uptrend that so far marked an amazing 32.96%. During this uptrend, the price gave some entry points on the breakouts. Latest pullback was in late March, when price bounced at $114.21. On April 5, Medtronic broke out above its last top ($119.93) giving a good buy point
$MDT at new All-time Highs
On Wednesday, Medtronic marked all-time highs (ATH) again at $131.38. It's the 6th time in the last 10 sessions, marking an important rally
Supports and resistances
Price is at highs and there are not upper resistances.
The current support levels are:
When the price moves out of the band (above the upper line or below the lower line) it tells that the price action is having a very strong momentum and therefore can correct the trend to the average. For this case, the price is over the upper band, meaning a possible short-term correction (at least) until it is under the band
Relative strength index
Crossed up the 70 level Wednesday, marking a reading of 81.01. The fact that the value is in the overbought zone does not in any way imply a sell signal, as stock price can rise during several weeks being in the overvalued zone
Medtronic stock price history
Medtronic started trading on May 2nd, 1973 at $0.00 per share1. Since then, MDT stock has risen by -, with an average of 0.00% per year. An investment of $1,000USD on the IPO would be valued $inf nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Medtronic stock
Nobody can predict how much a share will be priced in the future. However, many stock price predictions are posted every day by banks, financial institutions and independent analysts.
The following table shows the price predictions released by brokerage institutions in the last 30 days. Again, these targets are not direct recommendations for small investors and should not be followed blindly.
Averaging all price targets exposed below, the forecasted price for Medtronic stock is $153.00. Medtronic closed at $130.25 on Wednesday, that is a 14.87% than the predicted price.
|Brokerage firm||Price target|
|Apr 15th, 2021|
|Apr 21st, 2021|
Earnings and financials
Medtronic plc ($MDT) published quarterly earnings of $1.29 per share last February, enhancing the analysts consensus estimate of $1.15 per share. This Q3 report represents an earnings surprise of 12.17%. On the contrary, the company reported turnover was $7.8 billion aligned with the market forecasts.Compared to the same quarter one year ago, EPS was $1.44, so reported EPS is a drop of -10.42%. Looking at sales, figures only changed compared to $77.2B same quarter a year ago.
Medtronic ($MDT) will host the quarterly earnings call mid next May. Forecasted for this quarter is $1.42, compared to $1.29 that was reported for Q3.
Important note:The thoughts published in this article are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this text does not know the particular scenarios of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are published for educative purposes only
|Wednesday, April 21st, 2021|
|Day range||$128.36 - $131.38|
|Average true range||$2.16|
|50d mov avg||$118.68|
|100d mov avg||$116.58|
|200d mov avg||$109.30|
|Earnings date||May 20th, 2021|