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Medtronic (MDT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $110.46, marking a -0.11% move from the previous day. This change lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the medical device company had gained 4.91% over the past month. This has lagged the Medical sector's gain of 7.36% and outpaced the S&P 500's gain of 4.63% in that time.
Medtronic will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.57, up 4.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.44 billion, up 3.13% from the year-ago period.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. 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 19.5. For comparison, its industry has an average Forward P/E of 23.1, which means Medtronic is trading at a discount to the group.
We can also see that MDT currently has a PEG ratio of 2.58. 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 1.76 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Medtronic (MDT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $110.46, marking a -0.11% move from the previous day. This change lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the medical device company had gained 4.91% over the past month. This has lagged the Medical sector's gain of 7.36% and outpaced the S&P 500's gain of 4.63% in that time.
Medtronic will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.57, up 4.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.44 billion, up 3.13% from the year-ago period.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. 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 19.5. For comparison, its industry has an average Forward P/E of 23.1, which means Medtronic is trading at a discount to the group.
We can also see that MDT currently has a PEG ratio of 2.58. 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 1.76 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.