We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Medtronic (MDT) Flat As Market Sinks: What You Should Know
Read MoreHide Full Article
Medtronic (MDT - Free Report) closed the most recent trading day at $89.69, making no change from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.58%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 11.95%.
Prior to today's trading, shares of the medical device company had gained 12.62% over the past month. This has outpaced the Medical sector's gain of 5.01% and the S&P 500's gain of 4.27% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be May 25, 2023. On that day, Medtronic is projected to report earnings of $1.56 per share, which would represent year-over-year growth of 2.63%. Meanwhile, our latest consensus estimate is calling for revenue of $8.25 billion, up 1.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.28 per share and revenue of $30.92 billion, which would represent changes of -4.86% and -2.41%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Medtronic. These recent revisions tend to reflect the evolving nature of short-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. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Medtronic is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 16.99. This represents a discount compared to its industry's average Forward P/E of 22.28.
It is also worth noting that MDT currently has a PEG ratio of 2.71. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.58 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% 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.
View the Zacks #1 Rank List
Image: Bigstock
Medtronic (MDT) Flat As Market Sinks: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $89.69, making no change from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.58%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 11.95%.
Prior to today's trading, shares of the medical device company had gained 12.62% over the past month. This has outpaced the Medical sector's gain of 5.01% and the S&P 500's gain of 4.27% in that time.
Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be May 25, 2023. On that day, Medtronic is projected to report earnings of $1.56 per share, which would represent year-over-year growth of 2.63%. Meanwhile, our latest consensus estimate is calling for revenue of $8.25 billion, up 1.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.28 per share and revenue of $30.92 billion, which would represent changes of -4.86% and -2.41%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Medtronic. These recent revisions tend to reflect the evolving nature of short-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. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Medtronic is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 16.99. This represents a discount compared to its industry's average Forward P/E of 22.28.
It is also worth noting that MDT currently has a PEG ratio of 2.71. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.58 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% 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.