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Medtronic (MDT) Outpaces Stock Market Gains: What You Should Know
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Medtronic (MDT - Free Report) closed the most recent trading day at $82.58, moving +0.9% from the previous trading session. This change outpaced the S&P 500's 0.25% gain on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 7.26%.
Heading into today, shares of the medical device company had gained 5.18% over the past month, outpacing the Medical sector's loss of 0.75% and lagging the S&P 500's gain of 5.73% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release, which is expected to be February 21, 2023. On that day, Medtronic is projected to report earnings of $1.26 per share, which would represent a year-over-year decline of 8.03%. Our most recent consensus estimate is calling for quarterly revenue of $7.5 billion, down 3.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.26 per share and revenue of $30.42 billion, which would represent changes of -5.23% and -3.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.55. This represents a discount compared to its industry's average Forward P/E of 23.54.
It is also worth noting that MDT currently has a PEG ratio of 2.01. 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 2.31 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Medtronic (MDT) Outpaces Stock Market Gains: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $82.58, moving +0.9% from the previous trading session. This change outpaced the S&P 500's 0.25% gain on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 7.26%.
Heading into today, shares of the medical device company had gained 5.18% over the past month, outpacing the Medical sector's loss of 0.75% and lagging the S&P 500's gain of 5.73% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release, which is expected to be February 21, 2023. On that day, Medtronic is projected to report earnings of $1.26 per share, which would represent a year-over-year decline of 8.03%. Our most recent consensus estimate is calling for quarterly revenue of $7.5 billion, down 3.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.26 per share and revenue of $30.42 billion, which would represent changes of -5.23% and -3.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.55. This represents a discount compared to its industry's average Forward P/E of 23.54.
It is also worth noting that MDT currently has a PEG ratio of 2.01. 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 2.31 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.