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Shares of MDT Now Overbought

By Dividend Channel Staff, Friday, January 6, 3:59 PM ET
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In trading on Friday, shares of Medtronic, Inc. (NYSE:MDT) entered into overbought territory, changing hands as high as $39.20 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70.

In the case of Medtronic, Inc., the RSI reading has hit 70.2 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 57.6.

Investors could look at MDT's 70.2 reading as a sign that the recent heavy buying is in the process of exhausting itself, which could bring a pullback in the stock. The chart below shows the one year performance of MDT shares:

Medtronic, Inc. 1 Year Performance Chart

Looking at the chart above, MDT's low point in its 52 week range is $30.18 per share, with $43.33 as the 52 week high point that compares with a last trade of $39.06.

Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on MDT is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

MDT Dividend History
Date Div*
01/04/12 0.243
10/05/11 0.243
07/06/11 0.243
04/06/11 0.225
01/05/11 0.225
10/06/10 0.225
07/07/10 0.225
04/07/10 0.205
01/06/10 0.205
10/07/09 0.205
07/08/09 0.205
04/01/09 0.188
12/30/08 0.188
10/01/08 0.188
07/01/08 0.188
04/02/08 0.125
01/02/08 0.125
10/03/07 0.125
07/03/07 0.125
04/03/07 0.110
01/03/07 0.110
10/04/06 0.110
07/05/06 0.110
04/05/06 0.096
01/04/06 0.096
10/05/05 0.096
06/29/05 0.096
03/30/05 0.084
01/05/05 0.085
09/29/04 0.085
06/30/04 0.085
03/31/04 0.073
12/30/03 0.073
10/01/03 0.073
07/01/03 0.073
04/02/03 0.063
12/31/02 0.058
10/02/02 0.063
07/02/02 0.063
04/03/02 0.058
01/02/02 0.058
10/03/01 0.058
07/03/01 0.058
04/04/01 0.050
01/03/01 0.050
12/19/00 0.001
10/04/00 0.050
07/05/00 0.050
04/05/00 0.040
01/05/00 0.040
10/06/99 0.040
06/30/99 0.040
04/07/99 0.033
01/06/99 0.033
10/07/98 0.033
06/30/98 0.033
04/07/98 0.028
01/07/98 0.028
10/08/97 0.028
07/01/97 0.028
04/02/97 0.024
01/08/97 0.024
10/09/96 0.024
07/02/96 0.024
04/02/96 0.016
01/03/96 0.016
10/04/95 0.016
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.

According to the ETF Finder at ETF Channel, MDT makes up 11.36% of the iShares Dow Jones U.S. Medical Devices Index Fund ETF (AMEX:IHI) which is trading up by about 0.4% on the day Friday.

See what other ETFs contain MDT
See what other stocks are held by IHI

MDT operates in the Medical Instruments & Supplies sector, among companies like Integra LifeSciences Holdings Corp (NASDAQ:IART) which is down about 19.2% today, and ArthroCare Corp. (NASDAQ:ARTC) trading lower by about 0.4%. Below is a three month price history chart comparing the stock performance of MDT, versus IART and ARTC.

MDT,IART,ARTC Relative Performance Chart


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This Article's Word Cloud:   ARTC   Channel   Corp   Days   Definition   Dividend   Dividends   ETFs   Friday   Fund   IART   Importance   Index   Jones   Medical   Medtronic   Relative   Seven   Stock   Strength   What   about   above   always   below   chart   could   data   dividend   escape   fillColor   high   history   other   overbought   performance   point   reading   recent   share   shares   stock   stocks   territory   that   trading   week   what   which   with

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