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Medtronic (MDT) Gains As Market Dips: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $93.58, marking a +0.32% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.12%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.4%.
Heading into today, shares of the medical device company had gained 4.25% over the past month, outpacing the Medical sector's loss of 1.37% and lagging the S&P 500's gain of 8.25% 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 August 23, 2022. On that day, Medtronic is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 20.57%. Our most recent consensus estimate is calling for quarterly revenue of $7.32 billion, down 8.29% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.56 per share and revenue of $32.02 billion. These results would represent year-over-year changes of +0.18% and +1.06%, respectively.
It is also important to note the recent changes to analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.08% lower within the past month. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 16.78. This represents a discount compared to its industry's average Forward P/E of 21.96.
Investors should also note that MDT has a PEG ratio of 2.39 right now. 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 industry currently had an average PEG ratio of 2.02 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $93.58, marking a +0.32% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.12%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.4%.
Heading into today, shares of the medical device company had gained 4.25% over the past month, outpacing the Medical sector's loss of 1.37% and lagging the S&P 500's gain of 8.25% 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 August 23, 2022. On that day, Medtronic is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 20.57%. Our most recent consensus estimate is calling for quarterly revenue of $7.32 billion, down 8.29% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.56 per share and revenue of $32.02 billion. These results would represent year-over-year changes of +0.18% and +1.06%, respectively.
It is also important to note the recent changes to analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.08% lower within the past month. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 16.78. This represents a discount compared to its industry's average Forward P/E of 21.96.
Investors should also note that MDT has a PEG ratio of 2.39 right now. 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 industry currently had an average PEG ratio of 2.02 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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.