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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 $79.85, moving -0.59% from the previous trading session. This change lagged the S&P 500's 0.34% gain on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Heading into today, shares of the medical device company had gained 1.94% over the past month, outpacing the Medical sector's loss of 0.28% and the S&P 500's gain of 1% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release. On that day, Medtronic is projected to report earnings of $1.26 per share, which would represent a year-over-year decline of 8.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.5 billion, down 3.37% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.26 per share and revenue of $30.42 billion. These results would represent year-over-year changes of -5.23% and -3.98%, respectively.
Investors should also note any recent changes to analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. Medtronic is currently a Zacks Rank #4 (Sell).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 15.26. Its industry sports an average Forward P/E of 23.14, so we one might conclude that Medtronic is trading at a discount comparatively.
Also, we should mention that MDT has a PEG ratio of 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 2.3 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much 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 $79.85, moving -0.59% from the previous trading session. This change lagged the S&P 500's 0.34% gain on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Heading into today, shares of the medical device company had gained 1.94% over the past month, outpacing the Medical sector's loss of 0.28% and the S&P 500's gain of 1% in that time.
Investors will be hoping for strength from Medtronic as it approaches its next earnings release. On that day, Medtronic is projected to report earnings of $1.26 per share, which would represent a year-over-year decline of 8.03%. Meanwhile, our latest consensus estimate is calling for revenue of $7.5 billion, down 3.37% from the prior-year quarter.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.26 per share and revenue of $30.42 billion. These results would represent year-over-year changes of -5.23% and -3.98%, respectively.
Investors should also note any recent changes to analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. Medtronic is currently a Zacks Rank #4 (Sell).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 15.26. Its industry sports an average Forward P/E of 23.14, so we one might conclude that Medtronic is trading at a discount comparatively.
Also, we should mention that MDT has a PEG ratio of 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 2.3 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.