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Medtronic (MDT) Registers a Bigger Fall Than the Market: Important Facts to Note
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Medtronic (MDT - Free Report) closed at $87.09 in the latest trading session, marking a -2.69% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.17%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the medical device company had lost 1.27% lagged the Medical sector's loss of 0.67% and the S&P 500's loss of 0.24%.
The investment community will be closely monitoring the performance of Medtronic in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.34, reflecting a 1.47% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $9.47 billion, indicating a 5.63% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.98 per share and a revenue of $38.96 billion, representing changes of +8.14% and +7.14%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.61% higher. As of now, Medtronic holds a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 14.97. This represents a discount compared to its industry average Forward P/E of 20.02.
Investors should also note that MDT has a PEG ratio of 2.04 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Products industry stood at 1.75 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 107, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.
View the Zacks #1 Rank List
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Medtronic (MDT) Registers a Bigger Fall Than the Market: Important Facts to Note
Medtronic (MDT - Free Report) closed at $87.09 in the latest trading session, marking a -2.69% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.17%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the medical device company had lost 1.27% lagged the Medical sector's loss of 0.67% and the S&P 500's loss of 0.24%.
The investment community will be closely monitoring the performance of Medtronic in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.34, reflecting a 1.47% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $9.47 billion, indicating a 5.63% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.98 per share and a revenue of $38.96 billion, representing changes of +8.14% and +7.14%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.61% higher. As of now, Medtronic holds a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 14.97. This represents a discount compared to its industry average Forward P/E of 20.02.
Investors should also note that MDT has a PEG ratio of 2.04 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Products industry stood at 1.75 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 107, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.