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Medtronic (MDT) Gains But Lags Market: What You Should Know
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Medtronic (MDT - Free Report) closed the most recent trading day at $82.76, moving +1.41% from the previous trading session. This change lagged the S&P 500's 2.65% gain on the day. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 0.24%.
Prior to today's trading, shares of the medical device company had lost 9.57% over the past month. This has lagged the Medical sector's loss of 4.78% and the S&P 500's loss of 8.99% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release. On that day, Medtronic is projected to report earnings of $1.28 per share, which would represent a year-over-year decline of 3.03%. Our most recent consensus estimate is calling for quarterly revenue of $7.72 billion, down 1.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.53 per share and revenue of $31.56 billion, which would represent changes of -0.36% and -0.4%, respectively, from the prior year.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% lower. Medtronic is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 14.77. This valuation marks a discount compared to its industry's average Forward P/E of 18.05.
Meanwhile, MDT's PEG ratio is currently 1.81. 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. MDT's industry had an average PEG ratio of 2.08 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
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) Gains But Lags Market: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $82.76, moving +1.41% from the previous trading session. This change lagged the S&P 500's 2.65% gain on the day. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 0.24%.
Prior to today's trading, shares of the medical device company had lost 9.57% over the past month. This has lagged the Medical sector's loss of 4.78% and the S&P 500's loss of 8.99% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release. On that day, Medtronic is projected to report earnings of $1.28 per share, which would represent a year-over-year decline of 3.03%. Our most recent consensus estimate is calling for quarterly revenue of $7.72 billion, down 1.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.53 per share and revenue of $31.56 billion, which would represent changes of -0.36% and -0.4%, respectively, from the prior year.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% lower. Medtronic is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 14.77. This valuation marks a discount compared to its industry's average Forward P/E of 18.05.
Meanwhile, MDT's PEG ratio is currently 1.81. 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. MDT's industry had an average PEG ratio of 2.08 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.