Analysts on Wall Street project that Medtronic (MDT Quick QuoteMDT - Free Report) will announce quarterly earnings of $1.58 per share in its forthcoming report, representing an increase of 8.2% year over year. Revenues are projected to reach $8.81 billion, increasing 2.6% from the same quarter last year.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

That said, let's delve into the average estimates of some Medtronic metrics that Wall Street analysts commonly model and monitor.

The consensus estimate for 'Net Sales- World Wide Revenue- Diabetes' stands at $700.27 million. The estimate suggests a change of +6.1% year over year.

Analysts forecast 'Net Sales- World Wide Revenue- Neuroscience' to reach $2.55 billion. The estimate indicates a year-over-year change of 0%.

The consensus among analysts is that 'Net Sales- World Wide Revenue- Cardiovascular' will reach $3.27 billion. The estimate points to a change of +4.6% from the year-ago quarter.

The average prediction of analysts places 'Net Sales- World Wide Revenue- Medical Surgical' at $2.27 billion. The estimate indicates a year-over-year change of +3.1%.

According to the collective judgment of analysts, 'Net Sales- U.S. Revenue' should come in at $4.49 billion. The estimate suggests a change of +3.3% year over year.

Analysts predict that the 'Net Sales- U.S. Revenue- Medical Surgical' will reach $966.71 million. The estimate indicates a change of +1.3% from the prior-year quarter.

The combined assessment of analysts suggests that 'Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies' will likely reach $363.81 million. The estimate indicates a change of +2.5% from the prior-year quarter.

Analysts' assessment points toward 'Net Sales- ROW- Neuroscience- Specialty Therapies' reaching $346.44 million. The estimate suggests a change of +2.2% year over year.

Based on the collective assessment of analysts, 'Net Sales- ROW- Medical Surgical- Surgical & Endoscopy' should arrive at $1.02 billion. The estimate indicates a year-over-year change of -0.5%.

The collective assessment of analysts points to an estimated 'Net sales- U.S.- Other' of $8.56 million. The estimate indicates a year-over-year change of -67.1%.

Analysts expect 'Net Sales- ROW- Cardiovascular' to come in at $1.74 billion. The estimate points to a change of +3.3% from the year-ago quarter.

It is projected by analysts that the 'Net Sales- ROW- Cardiovascular- Coronary & Peripheral Vascular' will reach $383.12 million. The estimate indicates a change of +3.8% from the prior-year quarter.

View all Key Company Metrics for Medtronic here>>>

Shares of Medtronic have demonstrated returns of +4.3% over the past month compared to the Zacks S&P 500 composite's +9.8% change. With a Zacks Rank #3 (Hold), MDT is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>