Medtronic (MDT) closed at $87.83 in the latest trading session, marking a +1.57% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.56%. Elsewhere, the Dow gained 1.77%, while the tech-heavy Nasdaq added 2.2%.
Heading into today, shares of the medical device company had lost 4.94% over the past month, lagging the Medical sector's gain of 3.07% and the S&P 500's gain of 6.41% in that time.
Investors will be hoping for strength from MDT as it approaches its next earnings release, which is expected to be February 19, 2019. The company is expected to report EPS of $1.24, up 5.98% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.56 billion, up 2.54% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.13 per share and revenue of $30.55 billion. These results would represent year-over-year changes of +7.55% and +1.98%, respectively.
Investors might also notice recent changes to analyst estimates for MDT. These recent revisions tend to reflect the evolving nature of short-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. 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.
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 0.04% lower within the past month. MDT is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, MDT is holding a Forward P/E ratio of 16.87. This represents a discount compared to its industry's average Forward P/E of 21.73.
Meanwhile, MDT's PEG ratio is currently 2.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MDT's industry had an average PEG ratio of 2.09 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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) Outpaces Stock Market Gains: What You Should Know
Medtronic (MDT) closed at $87.83 in the latest trading session, marking a +1.57% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.56%. Elsewhere, the Dow gained 1.77%, while the tech-heavy Nasdaq added 2.2%.
Heading into today, shares of the medical device company had lost 4.94% over the past month, lagging the Medical sector's gain of 3.07% and the S&P 500's gain of 6.41% in that time.
Investors will be hoping for strength from MDT as it approaches its next earnings release, which is expected to be February 19, 2019. The company is expected to report EPS of $1.24, up 5.98% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.56 billion, up 2.54% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.13 per share and revenue of $30.55 billion. These results would represent year-over-year changes of +7.55% and +1.98%, respectively.
Investors might also notice recent changes to analyst estimates for MDT. These recent revisions tend to reflect the evolving nature of short-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. 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.
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 0.04% lower within the past month. MDT is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, MDT is holding a Forward P/E ratio of 16.87. This represents a discount compared to its industry's average Forward P/E of 21.73.
Meanwhile, MDT's PEG ratio is currently 2.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MDT's industry had an average PEG ratio of 2.09 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.