On November 24, 2017, Medtronic (MDT) stock closed at $83.30 per share. On June 26, 2017, Medtronic reported its 52-week high of $89.70, while the company’s 52-week low stood at $69.30 on January 3, 2017.
Medtronic’s 200-day moving average is $82.80 per share, and the stock’s 50-day moving average is $79.20. The company is currently trading at a higher price than these averages.
In July 2017, Medtronic stock registered a rally on the back of several key product launches. However, the company’s stock price has declined over the last two quarters.
Over the last six months, MDT stock has fallen ~2.2%. However, its stock price has been gradually improving and has returned around 5.3% over the last three months.
On November 21, 2017, Medtronic announced its fiscal 2Q18 earnings results. On that day, the company’s stock price rose more than 5.0% as the results exceeded analysts’ estimates. However, the company registered a decline in sales.
Over the past one-month period, Medtronic’s stock price rose ~3.5%. On a year-to-date basis, Medtronic stock has returned around 16.9%. The stock price gain over the last one-year period is 10.3%.
On November 24, 2017, MDT’s peers Boston Scientific (BSX), Abbott Laboratories (ABT), and Zimmer Biomet Holdings (ZBH) have returned ~35.5%, ~43.4%, and ~10.5%, respectively, over the last one-year period.
Let’s compare Medtronic’s performance with that of the market and US medical device industry. Over the last 12 months, Medtronic stock has generated returns of around 10.3%. The returns generated by the S&P 500 Index and the iShares US Medical Devices ETF (IHI) came in at ~17.5% and ~32%, respectively.
Medtronic has largely underperformed the industry as well as the broader market over the last one-year period.