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Medtronic (MDT) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Medtronic (MDT - Free Report) closed at $86.07, marking a -0.92% move from the previous day. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Heading into today, shares of the medical device company had gained 4.8% over the past month, outpacing the Medical sector's loss of 0.35% and the S&P 500's gain of 4.16% 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, our latest consensus estimate is calling for revenue of $7.57 billion, up 2.67% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.04 per share and revenue of $32.16 billion. These results would represent year-over-year changes of -4.73% and +2.97%, respectively.
Investors should also note any recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of 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. 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.
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 0.06% lower. Medtronic currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 17.22. This valuation marks a discount compared to its industry's average Forward P/E of 24.02.
Also, we should mention that MDT has a PEG ratio of 2.8. 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 2.59 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Medtronic (MDT) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Medtronic (MDT - Free Report) closed at $86.07, marking a -0.92% move from the previous day. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Heading into today, shares of the medical device company had gained 4.8% over the past month, outpacing the Medical sector's loss of 0.35% and the S&P 500's gain of 4.16% 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, our latest consensus estimate is calling for revenue of $7.57 billion, up 2.67% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.04 per share and revenue of $32.16 billion. These results would represent year-over-year changes of -4.73% and +2.97%, respectively.
Investors should also note any recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of 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. 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.
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 0.06% lower. Medtronic currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 17.22. This valuation marks a discount compared to its industry's average Forward P/E of 24.02.
Also, we should mention that MDT has a PEG ratio of 2.8. 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 2.59 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.