Medtronic (MDT) ended the recent trading session at $92.20, demonstrating a +0.93% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.04%. Meanwhile, the Dow experienced a rise of 0.77%, and the technology-dominated Nasdaq saw an increase of 1.51%.

The medical device company's stock has climbed by 6.97% in the past month, exceeding the Medical sector's gain of 3.72% and the S&P 500's gain of 3.92%.

The investment community will be paying close attention to the earnings performance of Medtronic in its upcoming release. The company is slated to reveal its earnings on February 18, 2025. The company is predicted to post an EPS of $1.36, indicating a 4.62% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $8.33 billion, indicating a 2.95% growth compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.45 per share and a revenue of $33.56 billion, representing changes of +4.81% and +3.69%, respectively, from the prior year.

Any recent changes to analyst estimates for Medtronic should also be noted by investors. Such recent modifications usually signify the changing landscape of near-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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Medtronic is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Medtronic is currently trading at a Forward P/E ratio of 16.75. This represents a discount compared to its industry's average Forward P/E of 19.5.

Investors should also note that MDT has a PEG ratio of 2.59 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.23.

The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons 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.

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