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Medtronic (MDT) Stock Moves -1.04%: What You Should Know
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Medtronic (MDT - Free Report) ended the recent trading session at $81.19, demonstrating a -1.04% swing from the preceding day's closing price. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq added 0.21%.
Prior to today's trading, shares of the medical device company had gained 5.25% over the past month. This has outpaced the Medical sector's gain of 2.17% and the S&P 500's loss of 4.22% in that time.
The investment community will be closely monitoring the performance of Medtronic in its forthcoming earnings report. The company is scheduled to release its earnings on August 20, 2024. The company's upcoming EPS is projected at $1.20, signifying steadiness compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $7.9 billion, indicating a 2.54% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.42 per share and a revenue of $33.41 billion, indicating changes of +4.23% and +3.22%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.37% downward. Medtronic is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Medtronic currently has a Forward P/E ratio of 15.13. This signifies a discount in comparison to the average Forward P/E of 23.16 for its industry.
We can additionally observe that MDT currently boasts a PEG ratio of 2.4. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Medtronic (MDT) Stock Moves -1.04%: What You Should Know
Medtronic (MDT - Free Report) ended the recent trading session at $81.19, demonstrating a -1.04% swing from the preceding day's closing price. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq added 0.21%.
Prior to today's trading, shares of the medical device company had gained 5.25% over the past month. This has outpaced the Medical sector's gain of 2.17% and the S&P 500's loss of 4.22% in that time.
The investment community will be closely monitoring the performance of Medtronic in its forthcoming earnings report. The company is scheduled to release its earnings on August 20, 2024. The company's upcoming EPS is projected at $1.20, signifying steadiness compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $7.9 billion, indicating a 2.54% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.42 per share and a revenue of $33.41 billion, indicating changes of +4.23% and +3.22%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Medtronic. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.37% downward. Medtronic is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Medtronic currently has a Forward P/E ratio of 15.13. This signifies a discount in comparison to the average Forward P/E of 23.16 for its industry.
We can additionally observe that MDT currently boasts a PEG ratio of 2.4. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.