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Medtronic (MDT) Stock Moves 0.4%: What You Should Know
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Medtronic (MDT - Free Report) closed the most recent trading day at $95.20, moving +0.4% from the previous trading session. This move traded in line with S&P 500. Elsewhere, the Dow gained 0.45%, while the tech-heavy Nasdaq lost 0.46%.
Prior to today's trading, shares of the medical device company had gained 6.4% over the past month. This has outpaced the Medical sector's gain of 0.18% and lagged the S&P 500's gain of 12.15% 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. In that report, analysts expect Medtronic to post earnings of $1.12 per share. This would mark a year-over-year decline of 20.57%. Our most recent consensus estimate is calling for quarterly revenue of $7.2 billion, down 9.82% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.55 per share and revenue of $32 billion. These results would represent year-over-year changes of 0% and +0.99%, respectively.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.21% lower within the past month. Medtronic is currently a Zacks Rank #3 (Hold).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 17.08. This represents a discount compared to its industry's average Forward P/E of 22.84.
Investors should also note that MDT has a PEG ratio of 2.43 right now. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.23 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 Moves 0.4%: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $95.20, moving +0.4% from the previous trading session. This move traded in line with S&P 500. Elsewhere, the Dow gained 0.45%, while the tech-heavy Nasdaq lost 0.46%.
Prior to today's trading, shares of the medical device company had gained 6.4% over the past month. This has outpaced the Medical sector's gain of 0.18% and lagged the S&P 500's gain of 12.15% 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. In that report, analysts expect Medtronic to post earnings of $1.12 per share. This would mark a year-over-year decline of 20.57%. Our most recent consensus estimate is calling for quarterly revenue of $7.2 billion, down 9.82% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.55 per share and revenue of $32 billion. These results would represent year-over-year changes of 0% and +0.99%, respectively.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.21% lower within the past month. Medtronic is currently a Zacks Rank #3 (Hold).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 17.08. This represents a discount compared to its industry's average Forward P/E of 22.84.
Investors should also note that MDT has a PEG ratio of 2.43 right now. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.23 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.