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Medtronic (MDT) Gains But Lags Market: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $80.30, marking a +0.04% move from the previous day. This change lagged the S&P 500's 0.36% gain on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Prior to today's trading, shares of the medical device company had gained 2.39% over the past month. This has outpaced the Medical sector's gain of 1.64% and the S&P 500's gain of 1.24% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. The company is expected to report EPS of $1.56, up 2.63% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.25 billion, up 1.97% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.28 per share and revenue of $30.92 billion. These results would represent year-over-year changes of -4.86% and -2.41%, respectively.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 0.03% lower. Medtronic currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Medtronic has a Forward P/E ratio of 15.21 right now. This represents a discount compared to its industry's average Forward P/E of 21.09.
Also, we should mention that MDT has a PEG ratio of 2.43. 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 industry currently had an average PEG ratio of 2.38 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.
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) Gains But Lags Market: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $80.30, marking a +0.04% move from the previous day. This change lagged the S&P 500's 0.36% gain on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Prior to today's trading, shares of the medical device company had gained 2.39% over the past month. This has outpaced the Medical sector's gain of 1.64% and the S&P 500's gain of 1.24% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. The company is expected to report EPS of $1.56, up 2.63% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.25 billion, up 1.97% from the year-ago period.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.28 per share and revenue of $30.92 billion. These results would represent year-over-year changes of -4.86% and -2.41%, respectively.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 0.03% lower. Medtronic currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Medtronic has a Forward P/E ratio of 15.21 right now. This represents a discount compared to its industry's average Forward P/E of 21.09.
Also, we should mention that MDT has a PEG ratio of 2.43. 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 industry currently had an average PEG ratio of 2.38 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.