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Medtronic (MDT) Falls More Steeply Than Broader Market: What Investors Need to Know
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Medtronic (MDT - Free Report) closed at $82.38 in the latest trading session, marking a -0.42% move from the prior day. This change lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Shares of the medical device company have appreciated by 4.36% over the course of the past month, underperforming the Medical sector's gain of 6.56% and the S&P 500's gain of 5.24%.
The upcoming earnings release of Medtronic will be of great interest to investors. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 3.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.95 billion, up 2.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.16 per share and a revenue of $32.07 billion, signifying shifts of -2.46% and +2.71%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Currently, Medtronic is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Medtronic is currently exchanging hands at a Forward P/E ratio of 16.02. This denotes a discount relative to the industry's average Forward P/E of 22.34.
Meanwhile, MDT's PEG ratio is currently 3.07. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Medical - Products stocks are, on average, holding a PEG ratio of 2.74 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 36% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Medtronic (MDT) Falls More Steeply Than Broader Market: What Investors Need to Know
Medtronic (MDT - Free Report) closed at $82.38 in the latest trading session, marking a -0.42% move from the prior day. This change lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Shares of the medical device company have appreciated by 4.36% over the course of the past month, underperforming the Medical sector's gain of 6.56% and the S&P 500's gain of 5.24%.
The upcoming earnings release of Medtronic will be of great interest to investors. In that report, analysts expect Medtronic to post earnings of $1.26 per share. This would mark a year-over-year decline of 3.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.95 billion, up 2.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.16 per share and a revenue of $32.07 billion, signifying shifts of -2.46% and +2.71%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Currently, Medtronic is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Medtronic is currently exchanging hands at a Forward P/E ratio of 16.02. This denotes a discount relative to the industry's average Forward P/E of 22.34.
Meanwhile, MDT's PEG ratio is currently 3.07. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Medical - Products stocks are, on average, holding a PEG ratio of 2.74 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 36% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.