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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 $86.77, marking a +0.47% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.99%.
Heading into today, shares of the medical device company had gained 4.35% over the past month, outpacing the Medical sector's gain of 2.16% and the S&P 500's gain of 4.25% in that time.
Medtronic will be looking to display strength as it nears its next earnings release. On that day, Medtronic is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 1.77%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.57 billion, up 2.7% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.05 per share and revenue of $32.16 billion. These totals would mark changes of -4.54% and +2.98%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Medtronic is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 17.12. This valuation marks a discount compared to its industry's average Forward P/E of 24.48.
Also, we should mention that MDT has a PEG ratio of 2.78. 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 2.64 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
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 $86.77, marking a +0.47% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.99%.
Heading into today, shares of the medical device company had gained 4.35% over the past month, outpacing the Medical sector's gain of 2.16% and the S&P 500's gain of 4.25% in that time.
Medtronic will be looking to display strength as it nears its next earnings release. On that day, Medtronic is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 1.77%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.57 billion, up 2.7% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.05 per share and revenue of $32.16 billion. These totals would mark changes of -4.54% and +2.98%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Medtronic is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 17.12. This valuation marks a discount compared to its industry's average Forward P/E of 24.48.
Also, we should mention that MDT has a PEG ratio of 2.78. 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 2.64 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.