In the latest close session, Medtronic (MDT) was down 1.16% at $87.10. This change lagged the S&P 500's daily gain of 0.8%. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq increased by 1.6%.
Coming into today, shares of the medical device company had lost 0.36% in the past month. In that same time, the Medical sector lost 0.77%, while the S&P 500 gained 5.15%.
Market participants will be closely following the financial results of Medtronic in its upcoming release. The company plans to announce its earnings on June 3, 2026. On that day, Medtronic is projected to report earnings of $1.6 per share, which would represent a year-over-year decline of 1.23%. 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 entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.58 per share and a revenue of $36.13 billion, representing changes of +1.64% and +7.72%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. As of now, Medtronic holds a Zacks Rank of #3 (Hold).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 15.78. This denotes a discount relative to the industry average Forward P/E of 19.49.
Also, we should mention that MDT has a PEG ratio of 2.28. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical - Products industry held an average PEG ratio of 1.64.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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