Medtronic PLC Stock Research

Market Summary

USD80.55+1.37

Market Closed

1.73%

MDT Stock Price

MDT RSI Chart

MDT Valuation

Market Cap

105.3B

Price/Earnings (Trailing)

25.91

Price/Sales (Trailing)

3.42

EV/EBITDA

14.12

Price/Free Cashflow

25.29

MDT Price/Sales (Trailing)

MDT Profitability

EBT Margin

17.60%

Return on Equity

7.88%

Return on Assets

4.32%

Free Cashflow Yield

3.95%

MDT Fundamentals

MDT Revenue

Revenue (TTM)

30.8B

Revenue Y/Y

-0.46%

Revenue Q/Q

1.87%

MDT Earnings

Earnings (TTM)

4.1B

Earnings Y/Y

-17.43%

Earnings Q/Q

186.18%

Price Action

52 Week Range

75.10113.44

(Low)(High)

Last 7 days

-0.1%

Last 30 days

-4.4%

Last 90 days

1.9%

Trailing 12 Months

-28.5%

MDT Financial Health

Current Ratio

1.76

Debt/Equity

0.43

Debt/Cashflow

0.25

MDT Investor Care

Dividend Yield

3.44%

Dividend/Share (TTM)

2.72

Buy Backs (1Y)

0.91%

Diluted EPS (TTM)

3.04

Peers (Alternatives to Medtronic)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MDT	105.3B	30.8B	-4.37%	-28.48%	25.91	3.42	-3.19%	-17.38%
ISRG	88.0B	6.2B	9.55%	-17.45%	66.52	14.14	8.97%	-22.43%
EW	49.6B	5.4B	1.40%	-30.34%	32.6	9.22	2.86%	1.25%
ALGN	24.1B	3.7B	0.76%	-29.47%	66.64	6.45	-5.51%	-53.17%
HOLX	19.9B	4.5B	1.08%	5.00%	20.11	4.46	-18.71%	-42.28%
MID-CAP
PEN	10.6B	847.1M	6.58%	27.77%	-5.3K	12.46	13.32%	-137.89%
NVST	6.6B	2.6B	3.10%	-18.44%	27.03	2.56	2.40%	-18.20%
CNMD	3.1B	1.0B	7.16%	-31.03%	-38.98	3	3.45%	-228.84%
TMDX	2.4B	93.5M	-7.87%	185.38%	-65.44	25.37	208.83%	18.06%
LIVN	2.3B	1.0B	-9.74%	-47.60%	-26.53	2.24	-1.31%	36.50%
SMALL-CAP
ESTA	1.7B	161.7M	-5.36%	-0.91%	-22.01	10.24	27.64%	-82.82%
AVNS	1.3B	820.0M	2.39%	-14.54%	26.48	1.63	10.13%	701.59%
BLFS	887.4M	154.8M	-10.66%	-9.26%	-8.53	5.73	60.29%	-2309.58%
INGN	278.7M	377.2M	-22.46%	-62.75%	-3.33	0.74	5.37%	-1222.79%
SDC	46.6M	470.7M	-35.97%	-85.77%	-0.54	0.1	-26.17%	15.66%

Financials for Medtronic

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	-0.1%	30,772	30,808	31,070	31,686	31,785
S&GA Expenses	0.5%	10,368	10,314	10,312	10,292	10,318
EBITDA	-2.0%	8,714	8,891	9,012	8,777	-
EBITDA Margin	-1.9%	0.28*	0.29*	0.29*	0.28*	-
Earnings Before Taxes	-3.8%	5,416	5,630	5,728	5,517	5,481
EBT Margin	-3.7%	0.18*	0.18*	0.18*	0.17*	-
Interest Expenses	5.3%	592	562	580	553	552
Net Income	-6.0%	4,065	4,323	5,207	5,039	4,920
Net Income Margin	-5.9%	0.13*	0.14*	0.17*	0.16*	-
Free Cahsflow	-13.6%	4,166	4,822	5,721	5,978	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	1.0%	94,134	93,241	89,914	90,981	91,804
Current Assets	-0.1%	25,364	25,398	22,135	23,059	23,303
Cash Equivalents	-6.4%	4,521	4,828	2,140	3,714	3,479
Inventory	6.3%	5,375	5,055	4,809	4,616	4,514
Net PPE	2.6%	5,437	5,298	5,281	5,413	5,251
Goodwill	2.8%	41,565	40,417	40,324	40,502	41,346
Liabilities	3.2%	42,516	41,184	37,071	38,260	39,091
Current Liabilities	-0.3%	14,422	14,465	14,049	12,394	8,927
Long Term Debt	7.0%	22,210	20,753	17,481	20,372	24,290
Shareholder's Equity	-0.5%	51,618	51,880	52,843	52,551	52,542
Retained Earnings	1.1%	30,117	29,799	30,276	30,250	29,607
Additional Paid-In Capital	0.3%	24,513	24,442	24,335	24,566	25,814
Accumulated Depreciation	3.5%	8,489	8,199	8,043	7,952	7,823
Shares Outstanding	0.0%	1,330	1,330	1,329	1,331	1,343
Minority Interest	0%	177	177	170	171	171

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-10.4%	5,636	6,290	7,137	7,346	7,034
Share Based Compensation	0.9%	352	349	352	359	356
Cashflow From Investing	5.2%	-2,747	-2,897	-2,460	-1,659	-11.00
Cashflow From Financing	-90.1%	-2,019	-1,062	-5,231	-5,336	-8,516
Dividend Payments	1.6%	3,554	3,497	3,440	3,383	3,321
Buy Backs	-14.1%	1,887	2,196	2,469	2,544	1,616

Risks for MDT

What is the probability of a big loss on MDT?

46.5%

Probability that Medtronic stock will be more than 20% underwater in next one year

32.7%

Probability that Medtronic stock will be more than 30% underwater in next one year.

Probability that Medtronic stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does MDT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Medtronic was unfortunately bought at previous high price.

Drawdowns

Returns for MDT

Cumulative Returns on MDT

7.6%

10-Year Cumulative Returns

2.8%

7-Year Cumulative Returns

1.7%

5-Year Cumulative Returns

-3.2%

3-Year Cumulative Returns

What are the long-term rolling returns for MDT?

FIve years rolling returns for Medtronic.

Annualized Returns

Which funds bought or sold MDT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-17	American Portfolios Advisors	added	32.5	512,240	3,178,580	0.14%
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-4.21	-192,074	2,503,930	0.07%
2023-03-13	Claro Advisors LLC	added	36.89	101,369	650,369	0.21%
2023-03-10	MATHER GROUP, LLC.	reduced	-11.21	-142,091	835,909	0.02%
2023-03-10	BAILLIE GIFFORD & CO	added	1.07	-948,671	33,858,300	0.04%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-5.3	-11,099,700	114,288,000	0.12%
2023-03-08	Capital Asset Advisory Services LLC	reduced	-18.5	-89,147	403,853	0.03%
2023-03-07	Great Lakes Retirement, Inc.	new	-	751,083	751,083	0.19%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-63.1	-95,801,000	52,760,000	0.26%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	reduced	-2.5	-24,416	379,584	0.02%

Latest Funds Activity

Are funds buying MDT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own MDT

No. of Funds

Medtronic News

Schedule 13G FIlings of Medtronic

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 15, 2023	blackrock inc.	9.2%	122,349,678	SC 13G/A
Feb 09, 2023	vanguard group inc	9.41%	125,126,702	SC 13G/A
Feb 01, 2022	blackrock inc.	8.0%	107,903,361	SC 13G/A
Feb 10, 2021	vanguard group inc	8.27%	111,286,018	SC 13G/A
Feb 03, 2021	wellington management group llp	2.87%	38,648,749	SC 13G/A
Jan 29, 2021	blackrock inc.	7.96%	107,107,760	SC 13G/A
Feb 12, 2020	vanguard group inc	8.55%	114,617,479	SC 13G/A
Feb 05, 2020	blackrock inc.	8.2%	109,561,921	SC 13G/A
Jan 27, 2020	wellington management group llp	5.13%	68,769,139	SC 13G/A

MDT Fair Value

Medtronic fair value in different scenarios

The table shows the Fair Value estimates for Medtronic for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	35.91 -55.42%	41.64 -48.31%	52.06 -35.37%	70.57 -12.39%	85.32 5.92%
Current Inflation	33.90 -57.91%	38.84 -51.78%	47.68 -40.81%	63.17 -21.58%	75.31 -6.51%
Very High Inflation	31.40 -61.02%	35.42 -56.03%	42.43 -47.32%	54.54 -32.29%	63.82 -20.77%

Historical Medtronic Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Medtronic

View All Filings

Date Filed	Form Type	Document
Mar 30, 2023	8-K	Current Report
Mar 24, 2023	424B5	Prospectus Filed
Mar 24, 2023	FWP	Prospectus Filed
Mar 23, 2023	424B3	Prospectus Filed
Mar 15, 2023	25-NSE	25-NSE
Mar 10, 2023	25-NSE	25-NSE
Mar 09, 2023	8-K	Current Report
Mar 07, 2023	8-K	Current Report
Mar 03, 2023	S-3ASR	S-3ASR
Mar 01, 2023	10-Q	Quarterly Report

Latest Insider Trading transactions for MDT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-01	Kirk Jennifer M	sold (taxes)	-57,637	85.77	-672	chief accounting officer
2022-12-13	Salmon Sean	acquired	920,027	55.32	16,631	evp & president cardiovascular
2022-12-13	Salmon Sean	sold	-1,338,740	80.4964	-16,631	evp & president cardiovascular
2022-12-09	Fong Ivan K	sold (taxes)	-409,140	78.59	-5,206	evp general counsel & secr
2022-12-07	WHITE ROBERT JOHN	sold (taxes)	-27,505	79.04	-348	evp & pres. medical surgical
2022-12-07	Wall Brett A.	sold (taxes)	-26,636	79.04	-337	evp & pres neuroscience
2022-12-07	Salmon Sean	sold (taxes)	-23,712	79.04	-300	evp & president cardiovascular
2022-10-14	TEN HOEDT ROB	sold	-196,015	81.537	-2,404	evp and pres. global regions
2022-10-14	TEN HOEDT ROB	acquired	100,006	41.6	2,404	evp and pres. global regions
2022-08-01	Smith Gregory L	acquired	-	-	5,587	evp global ops & supply chain

About Medtronic

Geoffrey S. Martha

www.medtronic.com

65535

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software. It also provides aortic valves; percutaneous coronary intervention stents, surgical valve replacement and repair products, endovascular stent grafts, percutaneous angioplasty balloons, and products to treat superficial venous diseases in the lower extremities. The Medical Surgical Portfolio segment offers surgical products, including surgical stapling devices, vessel sealing instruments, wound closure, electrosurgery products, surgical artificial intelligence and robotic-assisted surgery products, hernia mechanical devices, mesh implants, gynecology and lung products, and various therapies to treat diseases. The Neuroscience Portfolio segment offers products for spinal surgeons; neurosurgeons; neurologists; pain management specialists; anesthesiologists; orthopedic surgeons; urologists; urogynecologists; interventional radiologists; ear, nose, and throat specialists; and systems that incorporate energy surgical instruments. It also provides image-guided surgery and intra-operative imaging systems and robotic guidance systems used in robot assisted spine procedures; and therapies for vasculature in and around the brain. The Diabetes Operating Unit segment offers insulin pumps and consumables, and continuous glucose monitoring systems. The company was founded in 1949 and is headquartered in Dublin, Ireland.

MDT Income Statement

2023-01-27

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Jan. 27, 2023	Jan. 28, 2022	Jan. 27, 2023	Jan. 28, 2022
Income Statement [Abstract]
Net sales	$ 7,727,000,000	$ 7,763,000,000	$ 22,682,000,000	$ 23,597,000,000
Costs and expenses:
Cost of products sold, excluding amortization of intangible assets	2,689,000,000	2,459,000,000	7,740,000,000	7,554,000,000
Research and development expense	688,000,000	668,000,000	2,055,000,000	2,094,000,000
Selling, general, and administrative expense	2,615,000,000	2,561,000,000	7,799,000,000	7,723,000,000
Amortization of intangible assets	431,000,000	432,000,000	1,275,000,000	1,298,000,000
Restructuring charges, net	38,000,000	12,000,000	81,000,000	32,000,000
Certain litigation charges, net	0	35,000,000	0	95,000,000
Other operating (income) expense, net	(125,000,000)	(63,000,000)	(187,000,000)	719,000,000
Operating profit	1,392,000,000	1,659,000,000	3,920,000,000	4,081,000,000
Other non-operating income, net	(149,000,000)	(67,000,000)	(342,000,000)	(244,000,000)
Interest expense, net	167,000,000	137,000,000	449,000,000	410,000,000
Income before income taxes	1,375,000,000	1,589,000,000	3,813,000,000	3,915,000,000
Income tax provision	146,000,000	106,000,000	1,218,000,000	346,000,000
Net income	1,229,000,000	1,483,000,000	2,595,000,000	3,570,000,000
Net income attributable to noncontrolling interests	(6,000,000)	(4,000,000)	(17,000,000)	(16,000,000)
Net income attributable to Medtronic	$ 1,222,000,000	$ 1,480,000,000	$ 2,579,000,000	$ 3,554,000,000
Basic earnings per share (usd per share)	$ 0.92	$ 1.10	$ 1.94	$ 2.64
Diluted earnings per share (usd per share)	$ 0.92	$ 1.10	$ 1.94	$ 2.63
Basic weighted average shares outstanding (shares)	1,330.2	1,343.7	1,329.6	1,344.4
Diluted weighted average shares outstanding (shares)	1,332.0	1,350.3	1,332.8	1,353.9

MDT Balance Sheet

2023-01-27

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jan. 27, 2023	Apr. 29, 2022
Current assets:
Cash and cash equivalents	$ 4,521	$ 3,714
Investments	6,616	6,859
Accounts receivable, less allowances and credit losses of $207 and $230, respectively	5,887	5,551
Inventories, net	5,375	4,616
Other current assets	2,965	2,318
Total current assets	25,364	23,059
Property, plant, and equipment	13,926	13,365
Accumulated depreciation	(8,489)	(7,952)
Property, plant, and equipment, net	5,437	5,413
Goodwill	41,565	40,502
Other intangible assets, net	15,265	15,595
Tax assets	3,361	3,403
Other assets	3,142	3,008
Total assets	94,134	90,981
Current liabilities:
Current debt obligations	5,918	3,742
Accounts payable	2,209	2,276
Accrued compensation	2,007	2,121
Accrued income taxes	657	704
Other accrued expenses	3,630	3,551
Total current liabilities	14,422	12,394
Long-term debt	22,210	20,372
Accrued compensation and retirement benefits	1,103	1,113
Accrued income taxes	2,305	2,087
Deferred tax liabilities	747	884
Other liabilities	1,730	1,410
Total liabilities	42,516	38,260
Commitments and contingencies (Note 16)
Shareholders’ equity:
Ordinary shares— par value $0.0001, 2.6 billion shares authorized, 1,330,376,287 and 1,330,743,395 shares issued and outstanding, respectively	0	0
Additional paid-in capital	24,513	24,566
Retained earnings	30,117	30,250
Accumulated other comprehensive loss	(3,189)	(2,265)
Total shareholders’ equity	51,441	52,551
Noncontrolling interests	177	171
Total equity	51,618	52,722
Total liabilities and equity	$ 94,134	$ 90,981