We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Medtronic (MDT) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Medtronic (MDT - Free Report) closed at $122.29 in the latest trading session, marking a -0.59% move from the prior day. This change lagged the S&P 500's 0.35% loss on the day.
Heading into today, shares of the medical device company had lost 0.42% over the past month, lagging the Medical sector's gain of 5.24% and the S&P 500's gain of 7.11% in that time.
Investors will be hoping for strength from MDT as it approaches its next earnings release, which is expected to be November 23, 2021. In that report, analysts expect MDT to post earnings of $1.29 per share. This would mark year-over-year growth of 26.47%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 4.3% from the year-ago period.
It is also important to note the recent changes to analyst estimates for MDT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. MDT currently has a Zacks Rank of #4 (Sell).
Investors should also note MDT's current valuation metrics, including its Forward P/E ratio of 21.59. For comparison, its industry has an average Forward P/E of 25.47, which means MDT is trading at a discount to the group.
Also, we should mention that MDT has 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. The Medical - Products was holding an average PEG ratio of 2.15 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 39% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Medtronic (MDT) Dips More Than Broader Markets: What You Should Know
Medtronic (MDT - Free Report) closed at $122.29 in the latest trading session, marking a -0.59% move from the prior day. This change lagged the S&P 500's 0.35% loss on the day.
Heading into today, shares of the medical device company had lost 0.42% over the past month, lagging the Medical sector's gain of 5.24% and the S&P 500's gain of 7.11% in that time.
Investors will be hoping for strength from MDT as it approaches its next earnings release, which is expected to be November 23, 2021. In that report, analysts expect MDT to post earnings of $1.29 per share. This would mark year-over-year growth of 26.47%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 4.3% from the year-ago period.
It is also important to note the recent changes to analyst estimates for MDT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. MDT currently has a Zacks Rank of #4 (Sell).
Investors should also note MDT's current valuation metrics, including its Forward P/E ratio of 21.59. For comparison, its industry has an average Forward P/E of 25.47, which means MDT is trading at a discount to the group.
Also, we should mention that MDT has 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. The Medical - Products was holding an average PEG ratio of 2.15 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 39% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.