Medtronic Plc’s filing revealed that its EVP & President Cardiovascular Salmon Sean unloaded Company’s shares for reported $2.61 million on Feb 21 ’24. In the deal valued at $85.13 per share,30,695 shares were sold. As a result of this transaction, Salmon Sean now holds 48,289 shares worth roughly $4.01 million.
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Then, Wall Brett A. sold 4,997 shares, generating $410,603 in total proceeds. Upon selling the shares at $82.17, the EVP & Pres Neuroscience now owns 28,910 shares.
Before that, Smith Gregory L sold 10,000 shares. Medtronic Plc shares valued at $838,400 were divested by the EVP Global Ops & Supply Chain at a price of $83.84 per share. As a result of the transaction, Smith Gregory L now holds 46,723 shares, worth roughly $3.88 million.
Robert W. Baird initiated its Medtronic Plc [MDT] rating to a Neutral in a research note published on July 19, 2023; the price target was $90. A number of analysts have revised their coverage, including CL King’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. Morgan Stanley also remained covering MDT and has increased its forecast on May 30, 2023 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Wells Fargo revised its rating on April 24, 2023. It rated MDT as “an Overweight” which previously was an “an Equal weight”.
Price Performance Review of MDT
On Friday, Medtronic Plc [NYSE:MDT] saw its stock fall -0.40% to $83.08. Over the last five days, the stock has lost -0.59%. Medtronic Plc shares have risen nearly 0.85% since the year began. Nevertheless, the stocks have risen 3.93% over the past one year. While a 52-week high of $92.02 was reached on 01/31/24, a 52-week low of $68.84 was recorded on 01/02/24. SMA at 50 days reached $85.40, while 200 days put it at $82.06. A total of 5.17 million shares were traded, compared to the trading of 6.23 million shares in the previous session.
Levels Of Support And Resistance For MDT Stock
The 24-hour chart illustrates a support level at 82.72, which if violated will result in even more drops to 82.36. On the upside, there is a resistance level at 83.65. A further resistance level may holdings at 84.22. The Relative Strength Index (RSI) on the 14-day chart is 39.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.99, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.80%. Stochastics %K at 20.11% indicates the stock is a holding.
How much short interest is there in Medtronic Plc?
A steep rise in short interest was recorded in Medtronic Plc stocks on Feb 29, 2024, dropping by -2.42 million shares to a total of 8.45 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 10.87 million shares. There was a decline of -28.64%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.64% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.28.
