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

Medtronic (MDT) ended the recent trading session at $90.19, demonstrating a +1.05% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.32%, while the tech-heavy Nasdaq depreciated by 0.5%.Shares of the medical device company have appreciated by 9.38% over the course of the past month, outperforming the Medical sector's gain of 1.54% and the S&P 500's gain of 2.52%.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 February 18, 2025. The company's upcoming EPS is projected at $1.36, signifying a 4.62% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $8.33 billion, indicating a 2.95% upward movement from the same quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.45 per share and a revenue of $33.56 billion, indicating changes of +4.81% and +3.69%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Medtronic boasts a Zacks Rank of #4 (Sell).In terms of valuation, Medtronic is presently being traded at a Forward P/E ratio of 16.36. This signifies a discount in comparison to the average Forward P/E of 18.9 for its industry.One should further note that MDT currently holds a PEG ratio of 2.53. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Products industry currently had an average PEG ratio of 2.15 as of yesterday's close.The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 139, putting it in the bottom 45% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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