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Medtronic (MDT) Gains But Lags Market: What You Should Know
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The most recent trading session ended with Medtronic (MDT - Free Report) standing at $89.45, reflecting a +0.07% shift from the previouse trading day's closing. The stock lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.6%.
Prior to today's trading, shares of the medical device company had gained 1.2% over the past month. This has outpaced the Medical sector's loss of 2.27% and lagged the S&P 500's gain of 1.71% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Medtronic in its upcoming earnings disclosure. In that report, analysts expect Medtronic to post earnings of $1.24 per share. This would mark a year-over-year decline of 0.8%. At the same time, our most recent consensus estimate is projecting a revenue of $8.26 billion, reflecting a 3.47% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.44 per share and revenue of $33.6 billion, indicating changes of +4.62% and +3.81%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Medtronic is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 16.44. This denotes a discount relative to the industry's average Forward P/E of 24.1.
It is also worth noting that MDT currently has a PEG ratio of 2.55. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Products was holding an average PEG ratio of 2 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Medtronic (MDT) Gains But Lags Market: What You Should Know
The most recent trading session ended with Medtronic (MDT - Free Report) standing at $89.45, reflecting a +0.07% shift from the previouse trading day's closing. The stock lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.6%.
Prior to today's trading, shares of the medical device company had gained 1.2% over the past month. This has outpaced the Medical sector's loss of 2.27% and lagged the S&P 500's gain of 1.71% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Medtronic in its upcoming earnings disclosure. In that report, analysts expect Medtronic to post earnings of $1.24 per share. This would mark a year-over-year decline of 0.8%. At the same time, our most recent consensus estimate is projecting a revenue of $8.26 billion, reflecting a 3.47% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.44 per share and revenue of $33.6 billion, indicating changes of +4.62% and +3.81%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Medtronic. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Medtronic is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Medtronic currently has a Forward P/E ratio of 16.44. This denotes a discount relative to the industry's average Forward P/E of 24.1.
It is also worth noting that MDT currently has a PEG ratio of 2.55. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Products was holding an average PEG ratio of 2 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.