The latest trading session saw Medtronic (MDT) ending at $83.75, denoting a +0.46% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.67%. Meanwhile, the Dow experienced a rise of 1.07%, and the technology-dominated Nasdaq saw an increase of 2.5%.
Prior to today's trading, shares of the medical device company had lost 5.89% over the past month. This has was narrower than the Medical sector's loss of 9.34% and the S&P 500's loss of 6.57% 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 May 21, 2025. The company is expected to report EPS of $1.58, up 8.22% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $8.81 billion, indicating a 2.57% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.46 per share and a revenue of $33.48 billion, signifying shifts of +5% and +3.44%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Medtronic. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Medtronic is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Medtronic is currently being traded at a Forward P/E ratio of 15.28. This indicates a premium in contrast to its industry's Forward P/E of 15.18.
We can additionally observe that MDT currently boasts a PEG ratio of 2.1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.07.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Medtronic PLC (MDT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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