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Medtronic (MDT) Increases Despite Market Slip: Here's What You Need to Know
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Medtronic (MDT - Free Report) closed at $91.12 in the latest trading session, marking a +0.1% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.05% for the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.18%.
Prior to today's trading, shares of the medical device company had gained 1.3% over the past month. This has outpaced the Medical sector's loss of 4.16% and lagged the S&P 500's gain of 2.76% in that time.
Investors will be eagerly watching for the performance of Medtronic in its upcoming earnings disclosure. On that day, Medtronic is projected to report earnings of $1.24 per share, which would represent a year-over-year decline of 0.8%. Meanwhile, the latest consensus estimate predicts the revenue to be $8.26 billion, indicating a 3.47% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.44 per share and a revenue of $33.6 billion, signifying shifts of +4.62% and +3.81%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. Medtronic currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Medtronic is currently exchanging hands at a Forward P/E ratio of 16.74. Its industry sports an average Forward P/E of 22.77, so one might conclude that Medtronic is trading at a discount comparatively.
It's also important to note that MDT currently trades at a PEG ratio of 2.6. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical - Products stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Medtronic (MDT) Increases Despite Market Slip: Here's What You Need to Know
Medtronic (MDT - Free Report) closed at $91.12 in the latest trading session, marking a +0.1% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.05% for the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.18%.
Prior to today's trading, shares of the medical device company had gained 1.3% over the past month. This has outpaced the Medical sector's loss of 4.16% and lagged the S&P 500's gain of 2.76% in that time.
Investors will be eagerly watching for the performance of Medtronic in its upcoming earnings disclosure. On that day, Medtronic is projected to report earnings of $1.24 per share, which would represent a year-over-year decline of 0.8%. Meanwhile, the latest consensus estimate predicts the revenue to be $8.26 billion, indicating a 3.47% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.44 per share and a revenue of $33.6 billion, signifying shifts of +4.62% and +3.81%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. Medtronic currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Medtronic is currently exchanging hands at a Forward P/E ratio of 16.74. Its industry sports an average Forward P/E of 22.77, so one might conclude that Medtronic is trading at a discount comparatively.
It's also important to note that MDT currently trades at a PEG ratio of 2.6. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical - Products stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.