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Medtronic (MDT) Stock Moves -0.55%: What You Should Know
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Medtronic (MDT - Free Report) closed at $87.10 in the latest trading session, marking a -0.55% move from the prior day. This change was narrower than the S&P 500's 1.04% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Prior to today's trading, shares of the medical device company had gained 9.43% over the past month. This has outpaced the Medical sector's loss of 0.12% and the S&P 500's gain of 8.97% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 8.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.5 billion, down 3.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.26 per share and revenue of $30.42 billion. These totals would mark changes of -5.23% and -3.98%, respectively, from last year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.03% higher within the past month. Medtronic currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 16.64. For comparison, its industry has an average Forward P/E of 23.57, which means Medtronic is trading at a discount to the group.
Meanwhile, MDT's PEG ratio is currently 2.15. 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. The Medical - Products was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Medtronic (MDT) Stock Moves -0.55%: What You Should Know
Medtronic (MDT - Free Report) closed at $87.10 in the latest trading session, marking a -0.55% move from the prior day. This change was narrower than the S&P 500's 1.04% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Prior to today's trading, shares of the medical device company had gained 9.43% over the past month. This has outpaced the Medical sector's loss of 0.12% and the S&P 500's gain of 8.97% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 8.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.5 billion, down 3.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.26 per share and revenue of $30.42 billion. These totals would mark changes of -5.23% and -3.98%, respectively, from last year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.03% higher within the past month. Medtronic currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 16.64. For comparison, its industry has an average Forward P/E of 23.57, which means Medtronic is trading at a discount to the group.
Meanwhile, MDT's PEG ratio is currently 2.15. 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. The Medical - Products was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.