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Medtronic (MDT) Stock Moves -0.23%: What You Should Know
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Medtronic (MDT - Free Report) closed the most recent trading day at $80.81, moving -0.23% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the medical device company had gained 4.03% in the past month. In that same time, the Medical sector gained 6.85%, while the S&P 500 gained 6.51%.
Medtronic will be looking to display strength as it nears its next earnings release. In that report, analysts expect Medtronic to post earnings of $1.56 per share. This would mark year-over-year growth of 2.63%. 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.
Investors might also notice recent changes to analyst estimates for Medtronic. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. Medtronic is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 15.35. Its industry sports an average Forward P/E of 22.35, so we one might conclude that Medtronic is trading at a discount comparatively.
It is also worth noting that MDT currently has a PEG ratio of 2.45. 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 was holding an average PEG ratio of 2.39 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.
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Medtronic (MDT) Stock Moves -0.23%: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $80.81, moving -0.23% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the medical device company had gained 4.03% in the past month. In that same time, the Medical sector gained 6.85%, while the S&P 500 gained 6.51%.
Medtronic will be looking to display strength as it nears its next earnings release. In that report, analysts expect Medtronic to post earnings of $1.56 per share. This would mark year-over-year growth of 2.63%. 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.
Investors might also notice recent changes to analyst estimates for Medtronic. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. Medtronic is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 15.35. Its industry sports an average Forward P/E of 22.35, so we one might conclude that Medtronic is trading at a discount comparatively.
It is also worth noting that MDT currently has a PEG ratio of 2.45. 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 was holding an average PEG ratio of 2.39 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.