Medtronic (MDT) closed the most recent trading day at $88.65, moving +2.58% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 2.51%. Elsewhere, the Dow gained 2.85%, while the tech-heavy Nasdaq added 2.8%.
Prior to today's trading, shares of the medical device company had lost 3.86% was narrower than the Medical sector's loss of 5.12% and lagged the S&P 500's loss of 1.66%.
The investment community will be paying close attention to the earnings performance of Medtronic in its upcoming release. The company is slated to reveal its earnings on May 20, 2026. The company is forecasted to report an EPS of $1.6, showcasing a 1.23% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $9.66 billion, indicating a 8.2% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.58 per share and a revenue of $36.13 billion, signifying shifts of +1.64% and +7.72%, respectively, from the last year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.01% lower. Medtronic is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 15.48. This denotes a discount relative to the industry average Forward P/E of 18.
Meanwhile, MDT's PEG ratio is currently 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical - Products stocks are, on average, holding a PEG ratio of 1.58 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 31% of all 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.
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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This article originally published on Zacks Investment Research (zacks.com).