We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Medtronic (MDT) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Medtronic (MDT - Free Report) closed the most recent trading day at $87.34, moving +0.6% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq added 0.13%.
Coming into today, shares of the medical device company had gained 7.52% in the past month. In that same time, the Medical sector gained 5.51%, while the S&P 500 gained 4.98%.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. This is expected to be November 22, 2022. The company is expected to report EPS of $1.28, down 3.03% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.72 billion, down 1.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.53 per share and revenue of $31.55 billion. These totals would mark changes of -0.36% and -0.43%, respectively, from last year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.71. Its industry sports an average Forward P/E of 19.18, so we one might conclude that Medtronic is trading at a discount comparatively.
Also, we should mention that MDT has a PEG ratio of 2.31. 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 2.31 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% 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.
View the Zacks #1 Rank List
Image: Bigstock
Medtronic (MDT) Gains As Market Dips: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $87.34, moving +0.6% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq added 0.13%.
Coming into today, shares of the medical device company had gained 7.52% in the past month. In that same time, the Medical sector gained 5.51%, while the S&P 500 gained 4.98%.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. This is expected to be November 22, 2022. The company is expected to report EPS of $1.28, down 3.03% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.72 billion, down 1.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.53 per share and revenue of $31.55 billion. These totals would mark changes of -0.36% and -0.43%, respectively, from last year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Medtronic is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.71. Its industry sports an average Forward P/E of 19.18, so we one might conclude that Medtronic is trading at a discount comparatively.
Also, we should mention that MDT has a PEG ratio of 2.31. 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 2.31 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% 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.