Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Medtronic PLC (NYSE: MDT) improved of late. MDT’s current Value Trend Rating is C and the prior Rating was D. Details supporting this higher rating are included in our next report.
Recent Price Action
On 6/14/24, Medtronic PLC (NYSE: MDT) stock declined slightly by -0.8%, closing at $81.04. However, unusually low trading volume at 59% of normal accompanied the decline. The stock has performed in line with the market over the last nine months and has declined -1.6% during the last week.
Current PriceTarget Research Rating
MDT’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Medtronic has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Medtronic has a neutral Power Rating of 48 and a slightly negative Appreciation Score of 39, leading to the Low Neutral Value Trend Rating.
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