How Is The Market Feeling About Medtronic?
Portfolio Pulse from Benzinga Insights
Medtronic (NYSE:MDT) has seen a 28.36% increase in short interest since its last report, with 11.39 million shares sold short, representing 0.86% of available shares. The short interest is below the peer group average of 3.55%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.
January 31, 2024 | 5:00 pm
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Medtronic's short interest has increased, which may indicate bearish sentiment, but it remains below the peer average, suggesting less negative perception compared to peers.
The increase in short interest for Medtronic suggests that some investors are expecting the price to fall, which could lead to negative sentiment and potentially a short-term price decline. However, since the short interest is still below the peer average, it may not be a strong bearish signal compared to its peers. The impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80