In the latest trading session, Medtronic (MDT) closed at $78.30, marking a -2.13% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 1.13%, and the tech-heavy Nasdaq lost 0.19%.
Prior to today's trading, shares of the medical device company had lost 7.65% lagged the Medical sector's loss of 0.9% and the S&P 500's gain of 10.02%.
Market participants will be closely following the financial results of Medtronic in its upcoming release. The company plans to announce its earnings on June 3, 2026. The company's earnings per share (EPS) are projected to be $1.58, reflecting a 2.47% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.66 billion, up 8.22% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.57 per share and a revenue of $36.15 billion, signifying shifts of +1.46% and +7.78%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Medtronic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.04% lower. As of now, Medtronic holds a Zacks Rank of #4 (Sell).
In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 13.15. This signifies a discount in comparison to the average Forward P/E of 18.53 for its industry.
One should further note that MDT currently holds a PEG ratio of 1.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MDT's industry had an average PEG ratio of 1.49 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 168, positioning it in the bottom 32% 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.
To follow MDT in the coming trading sessions, be sure to utilize Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
