Medtronic (MDT) Increases Despite Market Slip: Here's What You Need to Know

Medtronic (MDT) closed at $91.12 in the latest trading session, marking a +0.1% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.05% for the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.18%.Prior to today's trading, shares of the medical device company had gained 1.3% over the past month. This has outpaced the Medical sector's loss of 4.16% and lagged the S&P 500's gain of 2.76% in that time.Investors will be eagerly watching for the performance of Medtronic in its upcoming earnings disclosure. On that day, Medtronic is projected to report earnings of $1.24 per share, which would represent a year-over-year decline of 0.8%. Meanwhile, the latest consensus estimate predicts the revenue to be $8.26 billion, indicating a 3.47% increase compared to the same quarter of the previous year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.44 per share and a revenue of $33.6 billion, signifying shifts of +4.62% and +3.81%, respectively, from the last year.Investors should also take note of any recent adjustments to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. Medtronic currently has a Zacks Rank of #3 (Hold).From a valuation perspective, Medtronic is currently exchanging hands at a Forward P/E ratio of 16.74. Its industry sports an average Forward P/E of 22.77, so one might conclude that Medtronic is trading at a discount comparatively.It's also important to note that MDT currently trades at a PEG ratio of 2.6. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical - Products stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% 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.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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