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Medtronic (MDT) Gains But Lags Market: What You Should Know
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Medtronic (MDT - Free Report) closed the most recent trading day at $83.88, moving +0.74% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the medical device company had gained 0.73% in the past month. In that same time, the Medical sector gained 1.38%, while the S&P 500 lost 0.84%.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release, which is expected to be November 22, 2022. 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%. Our most recent consensus estimate is calling for quarterly revenue of $7.72 billion, down 1.67% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.53 per share and revenue of $31.55 billion. These results would represent year-over-year changes of -0.36% and -0.43%, respectively.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 0.09% lower within the past month. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.07. This valuation marks a discount compared to its industry's average Forward P/E of 18.33.
Meanwhile, MDT's PEG ratio is currently 1.85. 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 2.19 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Medtronic (MDT) Gains But Lags Market: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $83.88, moving +0.74% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the medical device company had gained 0.73% in the past month. In that same time, the Medical sector gained 1.38%, while the S&P 500 lost 0.84%.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release, which is expected to be November 22, 2022. 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%. Our most recent consensus estimate is calling for quarterly revenue of $7.72 billion, down 1.67% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.53 per share and revenue of $31.55 billion. These results would represent year-over-year changes of -0.36% and -0.43%, respectively.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 0.09% lower within the past month. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.07. This valuation marks a discount compared to its industry's average Forward P/E of 18.33.
Meanwhile, MDT's PEG ratio is currently 1.85. 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 2.19 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.