Here's Why Medtronic (MDT) Gained But Lagged the Market Today

In the latest market close, Medtronic (MDT) reached $85.40, with a +0.18% movement compared to the previous day. The stock lagged the S&P 500's daily gain of 1.83%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 2.45%.The the stock of medical device company has risen by 4.77% in the past month, leading the Medical sector's loss of 3.48% and the S&P 500's loss of 3.31%.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 February 18, 2025. In that report, analysts expect Medtronic to post earnings of $1.36 per share. This would mark year-over-year growth of 4.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.33 billion, up 2.95% from the year-ago period.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.45 per share and revenue of $33.56 billion. These totals would mark changes of +4.81% and +3.69%, respectively, from last year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Medtronic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Medtronic possesses a Zacks Rank of #3 (Hold).Looking at valuation, Medtronic is presently trading at a Forward P/E ratio of 15.63. This represents a discount compared to its industry's average Forward P/E of 18.03.Investors should also note that MDT has a PEG ratio of 2.41 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. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.13.The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 137, which puts it in the bottom 46% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Medtronic PLC (MDT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks