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Medtronic (MDT) Stock Moves -1.21%: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $104.55, marking a -1.21% move from the previous day. This change was narrower than the S&P 500's daily loss of 3.57%. Elsewhere, the Dow lost 3.12%, while the tech-heavy Nasdaq lost 0.16%.
Prior to today's trading, shares of the medical device company had lost 5.27% over the past month. This has lagged the Medical sector's loss of 4.97% and was narrower than the S&P 500's loss of 6.12% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release, which is expected to be May 26, 2022. 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 3.02% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of 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.
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. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Medtronic has a Forward P/E ratio of 18.22 right now. For comparison, its industry has an average Forward P/E of 22.16, which means Medtronic is trading at a discount to the group.
It is also worth noting that MDT currently has a PEG ratio of 2.41. 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. The Medical - Products was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.
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Medtronic (MDT) Stock Moves -1.21%: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $104.55, marking a -1.21% move from the previous day. This change was narrower than the S&P 500's daily loss of 3.57%. Elsewhere, the Dow lost 3.12%, while the tech-heavy Nasdaq lost 0.16%.
Prior to today's trading, shares of the medical device company had lost 5.27% over the past month. This has lagged the Medical sector's loss of 4.97% and was narrower than the S&P 500's loss of 6.12% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release, which is expected to be May 26, 2022. 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 3.02% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of 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.
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. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Medtronic has a Forward P/E ratio of 18.22 right now. For comparison, its industry has an average Forward P/E of 22.16, which means Medtronic is trading at a discount to the group.
It is also worth noting that MDT currently has a PEG ratio of 2.41. 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. The Medical - Products was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.