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Medtronic (MDT) Stock Moves -0.34%: What You Should Know
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Medtronic (MDT - Free Report) closed at $84.20 in the latest trading session, marking a -0.34% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.38%. Elsewhere, the Dow lost 1.26%, while the tech-heavy Nasdaq lost 5.67%.
Prior to today's trading, shares of the medical device company had gained 7.32% over the past month. This has outpaced the Medical sector's loss of 1.7% and the S&P 500's gain of 3.87% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. On that day, Medtronic is projected to report earnings of $1.26 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.26 per share and revenue of $30.42 billion, which would represent changes of -5.23% and -3.98%, respectively, from the prior year.
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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 16.05. This valuation marks a discount compared to its industry's average Forward P/E of 24.49.
We can also see that MDT currently has a PEG ratio of 2.07. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.19 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% 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) Stock Moves -0.34%: What You Should Know
Medtronic (MDT - Free Report) closed at $84.20 in the latest trading session, marking a -0.34% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.38%. Elsewhere, the Dow lost 1.26%, while the tech-heavy Nasdaq lost 5.67%.
Prior to today's trading, shares of the medical device company had gained 7.32% over the past month. This has outpaced the Medical sector's loss of 1.7% and the S&P 500's gain of 3.87% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. On that day, Medtronic is projected to report earnings of $1.26 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.26 per share and revenue of $30.42 billion, which would represent changes of -5.23% and -3.98%, respectively, from the prior year.
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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 16.05. This valuation marks a discount compared to its industry's average Forward P/E of 24.49.
We can also see that MDT currently has a PEG ratio of 2.07. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.19 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% 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.