Medtronic (MDT) Stock Moves -0.08%: What You Should Know

Medtronic (MDT) closed at $104.09 in the latest trading session, marking a -0.08% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.05%.

Heading into today, shares of the medical device company had lost 0.34% over the past month, outpacing the Medical sector's loss of 11.91% and the S&P 500's loss of 7.66% in that time.

Medtronic will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2022. On that day, Medtronic is projected to report earnings of $1.38 per share, which would represent year-over-year growth of 6.98%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.94 billion, up 2.16% from the year-ago period.

Any recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.12% lower within the past month. Medtronic currently has a Zacks Rank of #4 (Sell).

Valuation is also important, so investors should note that Medtronic has a Forward P/E ratio of 18.32 right now. Its industry sports an average Forward P/E of 20.85, so we one might conclude that Medtronic is trading at a discount comparatively.

Investors should also note that MDT has a PEG ratio of 2.72 right now. 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. MDT's industry had an average PEG ratio of 1.5 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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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