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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 $89.50, marking a -0.13% move from the previous day. This change lagged the S&P 500's 1.5% gain on the day. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the medical device company had lost 6.68% over the past month, lagging the Medical sector's loss of 0.3% and the S&P 500's loss of 6.54% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. The company is expected to report EPS of $1.12, down 20.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.34 billion, down 8.05% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.56 per share and revenue of $32.06 billion. These results would represent year-over-year changes of +0.18% and +1.19%, respectively.
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. 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.
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 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 16.11. For comparison, its industry has an average Forward P/E of 21.02, which means Medtronic is trading at a discount to the group.
Investors should also note that MDT has a PEG ratio of 2.29 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 33% 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.
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 $89.50, marking a -0.13% move from the previous day. This change lagged the S&P 500's 1.5% gain on the day. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the medical device company had lost 6.68% over the past month, lagging the Medical sector's loss of 0.3% and the S&P 500's loss of 6.54% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. The company is expected to report EPS of $1.12, down 20.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.34 billion, down 8.05% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.56 per share and revenue of $32.06 billion. These results would represent year-over-year changes of +0.18% and +1.19%, respectively.
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. 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.
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 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 16.11. For comparison, its industry has an average Forward P/E of 21.02, which means Medtronic is trading at a discount to the group.
Investors should also note that MDT has a PEG ratio of 2.29 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.