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Medtronic (MDT) Exceeds Market Returns: Some Facts to Consider
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Medtronic (MDT - Free Report) ended the recent trading session at $83.87, demonstrating a +1.8% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.42%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.29%.
Shares of the medical device company witnessed a gain of 2.56% over the previous month, trailing the performance of the Medical sector with its gain of 5.6%, and outperforming the S&P 500's gain of 2.2%.
Investors will be eagerly watching for the performance of Medtronic in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.39, showcasing a 10.32% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $9.48 billion, reflecting a 10.53% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.94 per share and revenue of $38.66 billion, indicating changes of +7.41% and +6.33%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been a 0.03% rise in the Zacks Consensus EPS estimate. Medtronic presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Medtronic is presently trading at a Forward P/E ratio of 13.87. This denotes a discount relative to the industry average Forward P/E of 18.63.
Meanwhile, MDT's PEG ratio is currently 2.21. 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 1.74 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 25% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Medtronic (MDT) Exceeds Market Returns: Some Facts to Consider
Medtronic (MDT - Free Report) ended the recent trading session at $83.87, demonstrating a +1.8% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.42%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.29%.
Shares of the medical device company witnessed a gain of 2.56% over the previous month, trailing the performance of the Medical sector with its gain of 5.6%, and outperforming the S&P 500's gain of 2.2%.
Investors will be eagerly watching for the performance of Medtronic in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.39, showcasing a 10.32% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $9.48 billion, reflecting a 10.53% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.94 per share and revenue of $38.66 billion, indicating changes of +7.41% and +6.33%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been a 0.03% rise in the Zacks Consensus EPS estimate. Medtronic presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Medtronic is presently trading at a Forward P/E ratio of 13.87. This denotes a discount relative to the industry average Forward P/E of 18.63.
Meanwhile, MDT's PEG ratio is currently 2.21. 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 1.74 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 25% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.