Medtronic plc (MDT) Can’t Be More Risky. The Stock Formed a Wedge Down

April 25, 2018 - By reb123z

Medtronic plc (NYSE:MDT) Logo

Investors sentiment decreased to 1.02 in 2017 Q4. Its down 0.10, from 1.12 in 2017Q3. It is negative, as 65 investors sold Medtronic plc shares while 427 reduced holdings. 111 funds opened positions while 393 raised stakes. 1.04 billion shares or 2.98% less from 1.07 billion shares in 2017Q3 were reported.
Primecap Mngmt Ca has 0.54% invested in Medtronic plc (NYSE:MDT) for 8.75 million shares. Ancora owns 63,503 shares. America First Invest Advisors Llc invested in 0.02% or 795 shares. Convergence Investment Prtn Lc has invested 0.03% in Medtronic plc (NYSE:MDT). Livforsakringsbolaget Skandia Omsesidigt stated it has 0.9% of its portfolio in Medtronic plc (NYSE:MDT). F&V Capital Mngmt Limited Liability Com has invested 2.88% in Medtronic plc (NYSE:MDT). 31,911 are owned by Everence Cap Mngmt. Telemus Cap Ltd Llc has 8,993 shares. Cim Limited Liability Co invested in 2,856 shares or 0.09% of the stock. Sequoia Advsrs Ltd Liability Com stated it has 0.06% in Medtronic plc (NYSE:MDT). Sumitomo Mitsui Asset Limited owns 343,769 shares. Ubs Asset Americas holds 0.27% or 3.97M shares. Vigilant Cap Limited Com stated it has 3,313 shares. 541,326 are held by Fifth Third Bank. Moreover, Mai Cap Mgmt has 0.14% invested in Medtronic plc (NYSE:MDT).

The stock of Medtronic plc (MDT) formed a down wedge with $75.05 target or 5.00 % below today’s $79.00 share price. The 8 months wedge indicates high risk for the $107.07B company. If the $75.05 price target is reached, the company will be worth $5.35B less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.47% or $0.375 during the last trading session, reaching $78.995. About 1.23M shares traded. Medtronic plc (NYSE:MDT) has declined 3.54% since April 25, 2017 and is downtrending. It has underperformed by 15.09% the S&P500.

Analysts await Medtronic plc (NYSE:MDT) to report earnings on May, 24. They expect $1.38 EPS, up 3.76 % or $0.05 from last year’s $1.33 per share. MDT’s profit will be $1.87 billion for 14.31 P/E if the $1.38 EPS becomes a reality. After $1.17 actual EPS reported by Medtronic plc for the previous quarter, Wall Street now forecasts 17.95 % EPS growth.

Medtronic plc (NYSE:MDT) Ratings Coverage

Among 10 analysts covering Medtronic (NYSE:MDT), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Medtronic had 13 analyst reports since November 10, 2017 according to SRatingsIntel. Citigroup maintained Medtronic plc (NYSE:MDT) on Thursday, February 22 with “Buy” rating. The rating was maintained by Needham on Tuesday, November 21 with “Buy”. The rating was maintained by Needham on Wednesday, February 21 with “Buy”. The stock has “Buy” rating by BMO Capital Markets on Tuesday, December 12. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, March 29. Jefferies maintained the stock with “Buy” rating in Tuesday, November 21 report. The stock of Medtronic plc (NYSE:MDT) has “Buy” rating given on Tuesday, January 2 by Bank of America. The firm has “Buy” rating given on Friday, November 10 by BMO Capital Markets. The firm has “Hold” rating given on Wednesday, November 22 by Stifel Nicolaus. Morgan Stanley maintained Medtronic plc (NYSE:MDT) on Monday, February 5 with “Equal-Weight” rating.

Medtronic plc (NYSE:MDT) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.