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Medtronic (MDT) Stock Moves -1.16%: What You Should Know
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Medtronic (MDT - Free Report) closed at $80.03 in the latest trading session, marking a -1.16% move from the prior day. This change was narrower than the S&P 500's 1.17% loss on the day. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the medical device company had gained 5.28% over the past month. This has outpaced the Medical sector's gain of 0.26% and the S&P 500's loss of 5.25% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 8.03%. Our most recent consensus estimate is calling for quarterly revenue of $7.5 billion, down 3.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.26 per share and revenue of $30.42 billion, which would represent changes of -5.23% and -3.98%, respectively, from the prior year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. Medtronic is currently a Zacks Rank #4 (Sell).
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15.39. This represents a discount compared to its industry's average Forward P/E of 20.51.
We can also see that MDT currently has a PEG ratio of 2.53. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Products stocks are, on average, holding a PEG ratio of 2.26 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 154, which puts it in the bottom 39% 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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Medtronic (MDT) Stock Moves -1.16%: What You Should Know
Medtronic (MDT - Free Report) closed at $80.03 in the latest trading session, marking a -1.16% move from the prior day. This change was narrower than the S&P 500's 1.17% loss on the day. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the medical device company had gained 5.28% over the past month. This has outpaced the Medical sector's gain of 0.26% and the S&P 500's loss of 5.25% in that time.
Wall Street will be looking for positivity from Medtronic as it approaches its next earnings report date. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 8.03%. Our most recent consensus estimate is calling for quarterly revenue of $7.5 billion, down 3.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.26 per share and revenue of $30.42 billion, which would represent changes of -5.23% and -3.98%, respectively, from the prior year.
Any recent changes to analyst estimates for Medtronic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. Medtronic is currently a Zacks Rank #4 (Sell).
Investors should also note Medtronic's current valuation metrics, including its Forward P/E ratio of 15.39. This represents a discount compared to its industry's average Forward P/E of 20.51.
We can also see that MDT currently has a PEG ratio of 2.53. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Products stocks are, on average, holding a PEG ratio of 2.26 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 154, which puts it in the bottom 39% 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.