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Medtronic (MDT) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $106.09, marking a +1.8% move from the previous day. This change outpaced the S&P 500's 1.45% gain on the day. Meanwhile, the Dow gained 0.86%, and the Nasdaq, a tech-heavy index, added 0.44%.
Prior to today's trading, shares of the medical device company had lost 3.41% over the past month. This has lagged the Medical sector's loss of 2.41% and the S&P 500's loss of 3.26% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. This is expected to be February 22, 2022. In that report, analysts expect Medtronic to post earnings of $1.38 per share. This would mark year-over-year growth of 6.98%. Meanwhile, our latest consensus estimate is calling for revenue of $7.94 billion, up 2.16% from the prior-year quarter.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.1% lower. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 18.32. Its industry sports an average Forward P/E of 22, so we one might conclude that Medtronic is trading at a discount comparatively.
Investors should also note that MDT has a PEG ratio of 2.72 right now. 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. Medical - Products stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 39% 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.
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Medtronic (MDT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $106.09, marking a +1.8% move from the previous day. This change outpaced the S&P 500's 1.45% gain on the day. Meanwhile, the Dow gained 0.86%, and the Nasdaq, a tech-heavy index, added 0.44%.
Prior to today's trading, shares of the medical device company had lost 3.41% over the past month. This has lagged the Medical sector's loss of 2.41% and the S&P 500's loss of 3.26% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. This is expected to be February 22, 2022. In that report, analysts expect Medtronic to post earnings of $1.38 per share. This would mark year-over-year growth of 6.98%. Meanwhile, our latest consensus estimate is calling for revenue of $7.94 billion, up 2.16% from the prior-year quarter.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.1% lower. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 18.32. Its industry sports an average Forward P/E of 22, so we one might conclude that Medtronic is trading at a discount comparatively.
Investors should also note that MDT has a PEG ratio of 2.72 right now. 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. Medical - Products stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 39% 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.