In its upcoming report, Medtronic (MDT) is predicted by Wall Street analysts to post quarterly earnings of $1.33 per share, reflecting a decline of 4.3% compared to the same period last year. Revenues are forecasted to be $8.9 billion, representing a year-over-year increase of 7.3%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Medtronic metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Net Sales- World Wide Revenue- Cardiovascular' should arrive at $3.37 billion. The estimate suggests a change of +10.8% year over year.
The consensus among analysts is that 'Net Sales- World Wide Revenue- Neuroscience' will reach $2.59 billion. The estimate indicates a year-over-year change of +5.3%.
Analysts predict that the 'Net Sales- World Wide Revenue- Neuroscience- Cranial & Spinal Technologies' will reach $1.32 billion. The estimate indicates a change of +6% from the prior-year quarter.
Analysts' assessment points toward 'Net Sales- World Wide Revenue- Neuroscience- Neuromodulation' reaching $505.68 million. The estimate indicates a year-over-year change of +6.2%.
The combined assessment of analysts suggests that 'Net Sales- U.S. Revenue' will likely reach $4.53 billion. The estimate suggests a change of +6.9% year over year.
The average prediction of analysts places 'Net Sales- U.S. Revenue- Neuroscience- Neuromodulation' at $342.56 million. The estimate indicates a year-over-year change of +4.8%.
Analysts forecast 'Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies' to reach $338.62 million. The estimate indicates a year-over-year change of +10.3%.
According to the collective judgment of analysts, 'Net Sales- ROW- Neuroscience- Specialty Therapies' should come in at $335.35 million. The estimate suggests a change of +7.1% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- ROW- Neuroscience- Neuromodulation' of $160.11 million. The estimate indicates a year-over-year change of +7.5%.
Analysts expect 'Net Sales- ROW- Cardiovascular- Cardiac Rhythm & Heart Failure' to come in at $826.64 million. The estimate indicates a year-over-year change of +7.4%.
It is projected by analysts that the 'Net Sales- ROW- Diabetes' will reach $522.47 million. The estimate points to a change of +14.3% from the year-ago quarter.
The consensus estimate for 'Net Sales- ROW- Cardiovascular' stands at $1.77 billion. The estimate indicates a change of +8.5% from the prior-year quarter.
View all Key Company Metrics for Medtronic here>>>
Shares of Medtronic have demonstrated returns of +5.2% over the past month compared to the Zacks S&P 500 composite's -0.3% change. With a Zacks Rank #4 (Sell), MDT is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Medtronic PLC (MDT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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