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) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest trading session, Medtronic (MDT - Free Report) closed at $85.05, marking a +0.65% move from the previous day. This move outpaced the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the medical device company had lost 1.97% in the past month. In that same time, the Medical sector lost 0.3%, while the S&P 500 lost 3.29%.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. In that report, analysts expect Medtronic to post earnings of $1.28 per share. This would mark a year-over-year decline of 3.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.72 billion, down 1.58% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.53 per share and revenue of $31.56 billion, which would represent changes of -0.36% and -0.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Medtronic. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15.29. This represents a discount compared to its industry's average Forward P/E of 17.33.
Meanwhile, MDT's PEG ratio is currently 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.23 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Medtronic (MDT) Gains As Market Dips: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $85.05, marking a +0.65% move from the previous day. This move outpaced the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the medical device company had lost 1.97% in the past month. In that same time, the Medical sector lost 0.3%, while the S&P 500 lost 3.29%.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. In that report, analysts expect Medtronic to post earnings of $1.28 per share. This would mark a year-over-year decline of 3.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.72 billion, down 1.58% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.53 per share and revenue of $31.56 billion, which would represent changes of -0.36% and -0.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Medtronic. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15.29. This represents a discount compared to its industry's average Forward P/E of 17.33.
Meanwhile, MDT's PEG ratio is currently 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.23 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.