Yahoo Finance Medtronic (MDT) Rises Higher Than Market: Key Facts
Medtronic (MDT) ended the recent trading session at $80.86, demonstrating a +1.4% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.32%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.35%.
The medical device company's shares have seen a decrease of 8.5% over the last month, not keeping up with the Medical sector's loss of 5.3% and the S&P 500's loss of 2%.
Analysts and investors alike will be keeping a close eye on the performance of Medtronic in its upcoming earnings disclosure. The company's earnings report is set to go public on May 23, 2024. The company's upcoming EPS is projected at $1.45, signifying a 7.64% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $8.44 billion, indicating a 1.25% downward movement from the same quarter last year.
MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.20 per share and revenue of $32.21 billion. These results would represent year-over-year changes of -1.7% and +3.16%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Medtronic. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Medtronic holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Medtronic is holding a Forward P/E ratio of 15.34. This denotes a discount relative to the industry's average Forward P/E of 21.14.
It's also important to note that MDT currently trades at a PEG ratio of 2.73. 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. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.32.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 142, finds itself in the bottom 44% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 PLC (MDT) : Free Stock Analysis Report
