Medtronic (MDT) Outperforms Broader Market: What You Need to Know

The latest trading session saw Medtronic (MDT) ending at $91.99, denoting a +0.63% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.53%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.25%.Coming into today, shares of the medical device company had gained 14.43% in the past month. In that same time, the Medical sector gained 2.85%, while the S&P 500 gained 1.24%.The upcoming earnings release of Medtronic will be of great interest to investors. The company's earnings report is expected 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.For the full year, the Zacks Consensus Estimates are projecting earnings of $5.45 per share and revenue of $33.56 billion, which would represent changes of +4.81% and +3.69%, respectively, from the prior year.Investors should also take note of any recent adjustments to analyst estimates for Medtronic. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Medtronic boasts a Zacks Rank of #4 (Sell).Looking at its valuation, Medtronic is holding a Forward P/E ratio of 16.76. This expresses a discount compared to the average Forward P/E of 18.91 of its industry.We can additionally observe that MDT currently boasts a PEG ratio of 2.59. 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 was holding an average PEG ratio of 2.21 at yesterday's closing price.The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 133, putting it in the bottom 48% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 follow all of these stock-moving metrics, and many more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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