Medtronic (MDT) closed at $88.86 in the latest trading session, marking a +0.42% move from the prior day. This change lagged the S&P 500's 0.67% gain on the day. Meanwhile, the Dow experienced a rise of 0.56%, and the technology-dominated Nasdaq saw an increase of 0.87%.

The medical device company's shares have seen a decrease of 4.88% over the last month, surpassing the Medical sector's loss of 5.32% and the S&P 500's loss of 5.28%.

The upcoming earnings release of Medtronic will be of great interest to investors. The company's earnings report is expected on May 21, 2025. On that day, Medtronic is projected to report earnings of $1.58 per share, which would represent year-over-year growth of 8.22%. Simultaneously, our latest consensus estimate expects the revenue to be $8.81 billion, showing a 2.57% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.46 per share and a revenue of $33.48 billion, signifying shifts of +5% and +3.44%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Medtronic. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Medtronic is carrying a Zacks Rank of #3 (Hold).

Digging into valuation, Medtronic currently has a Forward P/E ratio of 16.22. Its industry sports an average Forward P/E of 18, so one might conclude that Medtronic is trading at a discount comparatively.

We can also see that MDT currently has a PEG ratio of 2.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. MDT's industry had an average PEG ratio of 2.12 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 173, finds itself in the bottom 31% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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 Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research