Today Medtronic (MDT) Hits New Lifetime High

Trade-Ideas LLC identified Medtronic (MDT) as a new lifetime high candidate
By TheStreet Wire ,

Trade-Ideas LLC identified

Medtronic

(

MDT

) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Medtronic as such a stock due to the following factors:

  • MDT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $493.9 million.
  • MDT has traded 68,278 shares today.
  • MDT is trading at a new lifetime high.

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More details on MDT:

Medtronic plc manufactures and sells device-based medical therapies worldwide. The stock currently has a dividend yield of 2%. MDT has a PE ratio of 35. Currently there are 14 analysts that rate Medtronic a buy, 1 analyst rates it a sell, and 5 rate it a hold.

The average volume for Medtronic has been 5.1 million shares per day over the past 30 days. Medtronic has a market cap of $122.0 billion and is part of the health care sector and health services industry. The stock has a beta of 1.01 and a short float of 1.2% with 3.02 days to cover. Shares are up 13.7% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Medtronic as a

buy

. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Health Care Equipment & Supplies industry. The net income increased by 110400.0% when compared to the same quarter one year prior, rising from -$1.00 million to $1,103.00 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 7.9%. Since the same quarter one year prior, revenues slightly increased by 3.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The current debt-to-equity ratio, 0.60, is low and is below the industry average, implying that there has been successful management of debt levels. Along with this, the company maintains a quick ratio of 2.54, which clearly demonstrates the ability to cover short-term cash needs.
  • This stock has managed to rise its share value by 19.09% over the past twelve months. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.

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