MDT Price Prediction Next Week
Analysis and Insights
To predict the stock price of Medtronic (MDT) for the next trading week, we analyze both technical and fundamental factors.
Technical Analysis:
- RSI: The RSI_6 (29.86), RSI_12 (43.08), and RSI_14 (45.10) indicate the stock is oversold, suggesting potential for a short-term rebound.
- Stochastic Oscillator: StochK (17.54) and StochD (27.04) are below 30, confirming oversold conditions.
- MACD: The MACD line (0.43) is slightly above the signal line (-0.42), but the MACD histogram (-0.85) indicates bearish momentum.
- Moving Averages: The stock is trading below its 20, 50, 60, 200, and 250-day moving averages, signaling a downtrend.
- Bollinger Bands: The stock is near the lower Bollinger Band, suggesting potential support.
Fibonacci Levels:
- Pivot Point: $92.73
- Resistance Levels: $95.25, $96.82, $99.35
- Support Levels: $90.20, $88.63, $86.11
The stock is currently testing the first support level at $90.20, with potential to drop to $88.63.
Fundamental Analysis:
- Valuation: MDT has a P/E ratio of 27.54 and a forward P/E of 24, indicating a premium valuation.
- Dividend Yield: The forward dividend yield of 3.10% is attractive for income investors.
- Recent Earnings: MDT reported a slight revenue miss but beat EPS estimates. The company maintained its FY25 guidance, projecting organic revenue growth of 4.75%-5%.
- News Sentiment: MDT's meeting with Chinese executives could signal improving business conditions, but trade tensions remain a concern.
Conclusion:
Based on the analysis, MDT is likely to face downward pressure in the short term. The stock is oversold, but technical indicators and Fibonacci levels suggest a target price of $88.63.
Recommendation: Sell MDT with a target price of $88.63 and a stop-loss at $92.30.
MDT Similar Chart Price Prediction
The price of MDT is predicted to go up -14.24%, based on the high correlation periods with EIG. The similarity of these two price pattern on the periods is 92.99%.
MDT
EIG
Down: -14.24%Similarity: 92.99%
MDT Revenue Forecast
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MDT VS S&P500
Medtronic has historically held roughly 50% share in its core heart devices. It's also the market leader in spinal products, insulin pumps, and neuromodulators for chronic pain.
Medtronic's pipeline contains treatments for atrial fibrillation, mitral valve disease, and renal denervation for hypertension. If these new therapies prove effective, Medtronic could dominate three more potentially large markets.
Medtronic often finds novel ways to apply familiar technologies, like using the implantable electronic stimulation in pacemakers to address fecal incontinence and chronic pain.
MDT Analyst's Forecast
David Rescott
Baird
Hold
2025-02-19
Price Target
$90 → $91
Upside
+4.6%
Baird analyst David Rescott raised the firm's price target on Medtronic to $91 from $90 and keeps a Neutral rating on the shares. The firm updated its model following Q4 results and said the MedSurg miss clouds an improving return to stability.
Richard Newitter
Truist Securities
Hold
2024-12-18
Price Target
$93 → $89
Upside
+9.84%
Matt Miksic
Barclays
Buy
2024-11-26
Price Target
$105 → $109
Upside
+27.22%
