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Medtronic (MDT) Gains But Lags Market: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $80.86, marking a +1.04% move from the previous day. The stock lagged the S&P 500's daily gain of 2.28%. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the medical device company had gained 2.88% in the past month. In that same time, the Medical sector gained 0.62%, while the S&P 500 lost 4.61%.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 8.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.5 billion, down 3.37% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.26 per share and revenue of $30.42 billion. These results would represent year-over-year changes of -5.23% and -3.98%, respectively.
Investors should also note any recent changes to analyst estimates for Medtronic. 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.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Medtronic currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.21. For comparison, its industry has an average Forward P/E of 20.91, which means Medtronic is trading at a discount to the group.
We can also see that MDT currently has a PEG ratio of 2.5. 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. The Medical - Products was holding an average PEG ratio of 2.28 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.
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Medtronic (MDT) Gains But Lags Market: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $80.86, marking a +1.04% move from the previous day. The stock lagged the S&P 500's daily gain of 2.28%. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the medical device company had gained 2.88% in the past month. In that same time, the Medical sector gained 0.62%, while the S&P 500 lost 4.61%.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 8.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.5 billion, down 3.37% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.26 per share and revenue of $30.42 billion. These results would represent year-over-year changes of -5.23% and -3.98%, respectively.
Investors should also note any recent changes to analyst estimates for Medtronic. 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.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Medtronic currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.21. For comparison, its industry has an average Forward P/E of 20.91, which means Medtronic is trading at a discount to the group.
We can also see that MDT currently has a PEG ratio of 2.5. 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. The Medical - Products was holding an average PEG ratio of 2.28 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.