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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) ended the recent trading session at $87.53, demonstrating a +1.78% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.32%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq depreciated by 2.24%.
The medical device company's shares have seen a decrease of 4.22% over the last month, surpassing the Medical sector's loss of 6.81% and falling behind the S&P 500's gain of 1.55%.
Investors will be eagerly watching for the performance of Medtronic in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 19, 2024. It is anticipated that the company will report an EPS of $1.24, marking a 0.8% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.26 billion, up 3.47% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.44 per share and a revenue of $33.6 billion, representing changes of +4.62% and +3.81%, respectively, from the prior year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Medtronic currently has a Zacks Rank of #3 (Hold).
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15.82. Its industry sports an average Forward P/E of 24.78, 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 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.24.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Medtronic (MDT) Increases Despite Market Slip: Here's What You Need to Know
Medtronic (MDT - Free Report) ended the recent trading session at $87.53, demonstrating a +1.78% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.32%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq depreciated by 2.24%.
The medical device company's shares have seen a decrease of 4.22% over the last month, surpassing the Medical sector's loss of 6.81% and falling behind the S&P 500's gain of 1.55%.
Investors will be eagerly watching for the performance of Medtronic in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 19, 2024. It is anticipated that the company will report an EPS of $1.24, marking a 0.8% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.26 billion, up 3.47% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.44 per share and a revenue of $33.6 billion, representing changes of +4.62% and +3.81%, respectively, from the prior year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Medtronic currently has a Zacks Rank of #3 (Hold).
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15.82. Its industry sports an average Forward P/E of 24.78, 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 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.24.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.