Medtronic (MDT) closed at $93.01 in the latest trading session, marking a +1.17% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. Elsewhere, the Dow lost 0.35%, while the tech-heavy Nasdaq lost 0.15%.
Coming into today, shares of the medical device company had lost 1.99% in the past month. In that same time, the Medical sector gained 1.06%, while the S&P 500 gained 2.05%.
The investment community will be paying close attention to the earnings performance of Medtronic in its upcoming release. The company is predicted to post an EPS of $1.34, indicating a 1.47% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.47 billion, up 5.66% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.98 per share and a revenue of $38.97 billion, signifying shifts of +8.14% and +7.16%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.17% increase. Medtronic is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Medtronic is currently exchanging hands at a Forward P/E ratio of 15.38. This denotes a discount relative to the industry average Forward P/E of 19.61.
It is also worth noting that MDT currently has a PEG ratio of 2.09. 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. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 1.79.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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