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Medtronic (MDT) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $80.62, marking a +1.82% move from the previous day. This move outpaced the S&P 500's daily gain of 1.44%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 5.21%.
Coming into today, shares of the medical device company had lost 3.74% in the past month. In that same time, the Medical sector gained 2.17%, while the S&P 500 gained 2.28%.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. In that report, analysts expect Medtronic to post earnings of $1.56 per share. This would mark year-over-year growth of 2.63%. Our most recent consensus estimate is calling for quarterly revenue of $8.25 billion, up 2.03% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.28 per share and revenue of $30.93 billion. These totals would mark changes of -4.86% and -2.39%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.03% lower. Medtronic currently has a Zacks Rank of #3 (Hold).
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15. This represents a discount compared to its industry's average Forward P/E of 21.
Investors should also note that MDT has a PEG ratio of 2.4 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.33 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.
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Medtronic (MDT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $80.62, marking a +1.82% move from the previous day. This move outpaced the S&P 500's daily gain of 1.44%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 5.21%.
Coming into today, shares of the medical device company had lost 3.74% in the past month. In that same time, the Medical sector gained 2.17%, while the S&P 500 gained 2.28%.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. In that report, analysts expect Medtronic to post earnings of $1.56 per share. This would mark year-over-year growth of 2.63%. Our most recent consensus estimate is calling for quarterly revenue of $8.25 billion, up 2.03% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.28 per share and revenue of $30.93 billion. These totals would mark changes of -4.86% and -2.39%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.03% lower. Medtronic currently has a Zacks Rank of #3 (Hold).
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15. This represents a discount compared to its industry's average Forward P/E of 21.
Investors should also note that MDT has a PEG ratio of 2.4 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.33 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.