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Medtronic (MDT) Dips More Than Broader Markets: What You Should Know
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Medtronic (MDT - Free Report) closed at $87.51 in the latest trading session, marking a -0.46% move from the prior day. This change lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Prior to today's trading, shares of the medical device company had lost 1.61% over the past month. This has lagged the Medical sector's gain of 5.06% and the S&P 500's gain of 1.51% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be August 23, 2022. The company is expected to report EPS of $1.12, down 20.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.33 billion, down 8.17% from the year-ago period.
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 recent revisions tend to reflect the evolving nature of short-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. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Medtronic currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 15.81. This represents a discount compared to its industry's average Forward P/E of 20.85.
It is also worth noting that MDT currently has a PEG ratio of 2.25. 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 1.77 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 133, putting it in the bottom 48% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Medtronic (MDT) Dips More Than Broader Markets: What You Should Know
Medtronic (MDT - Free Report) closed at $87.51 in the latest trading session, marking a -0.46% move from the prior day. This change lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Prior to today's trading, shares of the medical device company had lost 1.61% over the past month. This has lagged the Medical sector's gain of 5.06% and the S&P 500's gain of 1.51% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be August 23, 2022. The company is expected to report EPS of $1.12, down 20.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.33 billion, down 8.17% from the year-ago period.
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 recent revisions tend to reflect the evolving nature of short-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. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Medtronic currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 15.81. This represents a discount compared to its industry's average Forward P/E of 20.85.
It is also worth noting that MDT currently has a PEG ratio of 2.25. 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 1.77 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 133, putting it in the bottom 48% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.