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Medtronic (MDT) Dips More Than Broader Markets: What You Should Know
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Medtronic (MDT - Free Report) closed at $87.65 in the latest trading session, marking a -0.45% move from the prior day. This change lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Heading into today, shares of the medical device company had lost 0.23% over the past month, outpacing the Medical sector's loss of 1.81% and lagging the S&P 500's gain of 3.39% in that time.
Medtronic will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.11, down 1.77% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.57 billion, up 2.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.04 per share and revenue of $32.16 billion, which would represent changes of -4.73% and +2.97%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 17.45. Its industry sports an average Forward P/E of 23.25, so we one might conclude that Medtronic is trading at a discount comparatively.
Meanwhile, MDT's PEG ratio is currently 2.84. 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. MDT's industry had an average PEG ratio of 2.64 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 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.
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) Dips More Than Broader Markets: What You Should Know
Medtronic (MDT - Free Report) closed at $87.65 in the latest trading session, marking a -0.45% move from the prior day. This change lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Heading into today, shares of the medical device company had lost 0.23% over the past month, outpacing the Medical sector's loss of 1.81% and lagging the S&P 500's gain of 3.39% in that time.
Medtronic will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.11, down 1.77% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.57 billion, up 2.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.04 per share and revenue of $32.16 billion, which would represent changes of -4.73% and +2.97%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Medtronic. These revisions help to show the ever-changing nature of 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 17.45. Its industry sports an average Forward P/E of 23.25, so we one might conclude that Medtronic is trading at a discount comparatively.
Meanwhile, MDT's PEG ratio is currently 2.84. 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. MDT's industry had an average PEG ratio of 2.64 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.