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Medtronic (MDT) Stock Sinks As Market Gains: What You Should Know
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Medtronic (MDT - Free Report) closed the most recent trading day at $88.86, moving -0.08% from the previous trading session. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.09%.
Investors will be hoping for strength from MDT as it approaches its next earnings release. In that report, analysts expect MDT to post earnings of $0.26 per share. This would mark a year-over-year decline of 79.37%. Meanwhile, our latest consensus estimate is calling for revenue of $5.38 billion, down 28.27% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.51 per share and revenue of $27.45 billion. These totals would mark changes of -23.53% and -5.08%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MDT. These recent revisions tend to reflect the evolving nature of short-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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.45% lower. MDT is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, MDT is currently trading at a Forward P/E ratio of 25.37. This represents a discount compared to its industry's average Forward P/E of 34.03.
Investors should also note that MDT has a PEG ratio of 3.28 right now. 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 4.07 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Medtronic (MDT) Stock Sinks As Market Gains: What You Should Know
Medtronic (MDT - Free Report) closed the most recent trading day at $88.86, moving -0.08% from the previous trading session. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.09%.
Investors will be hoping for strength from MDT as it approaches its next earnings release. In that report, analysts expect MDT to post earnings of $0.26 per share. This would mark a year-over-year decline of 79.37%. Meanwhile, our latest consensus estimate is calling for revenue of $5.38 billion, down 28.27% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.51 per share and revenue of $27.45 billion. These totals would mark changes of -23.53% and -5.08%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MDT. These recent revisions tend to reflect the evolving nature of short-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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.45% lower. MDT is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, MDT is currently trading at a Forward P/E ratio of 25.37. This represents a discount compared to its industry's average Forward P/E of 34.03.
Investors should also note that MDT has a PEG ratio of 3.28 right now. 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 4.07 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.