In its upcoming report, Medtronic (MDT) is predicted by Wall Street analysts to post quarterly earnings of $1.36 per share, reflecting an increase of 4.6% compared to the same period last year. Revenues are forecasted to be $8.33 billion, representing a year-over-year increase of 3%.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

With that in mind, let's delve into the average projections of some Medtronic metrics that are commonly tracked and projected by analysts on Wall Street.

According to the collective judgment of analysts, 'Net Sales- World Wide Revenue- Diabetes' should come in at $676.84 million. The estimate suggests a change of +5.8% year over year.

Analysts' assessment points toward 'Net Sales- World Wide Revenue- Neuroscience' reaching $2.46 billion. The estimate suggests a change of +4.5% year over year.

The average prediction of analysts places 'Net Sales- World Wide Revenue- Cardiovascular' at $3.04 billion. The estimate indicates a year-over-year change of +3.9%.

It is projected by analysts that the 'Net Sales- World Wide Revenue- Medical Surgical' will reach $2.13 billion. The estimate indicates a change of -1% from the prior-year quarter.

Analysts predict that the 'Net Sales- U.S. Revenue' will reach $4.27 billion. The estimate indicates a change of +3.7% from the prior-year quarter.

The combined assessment of analysts suggests that 'Net Sales- U.S. Revenue- Medical Surgical' will likely reach $948.87 million. The estimate indicates a year-over-year change of -1.2%.

Analysts forecast 'Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies' to reach $335.00 million. The estimate indicates a change of +1.8% from the prior-year quarter.

Based on the collective assessment of analysts, 'Net Sales- ROW- Neuroscience- Specialty Therapies' should arrive at $329.67 million. The estimate indicates a change of +3.3% from the prior-year quarter.

The consensus estimate for 'Net Sales- ROW- Medical Surgical- Surgical & Endoscopy' stands at $970.90 million. The estimate points to a change of +1.9% from the year-ago quarter.

The consensus among analysts is that 'Net Sales- ROW- Cardiovascular' will reach $1.60 billion. The estimate suggests a change of +2.8% year over year.

Analysts expect 'Net Sales- ROW- Cardiovascular- Coronary & Peripheral Vascular' to come in at $359.73 million. The estimate points to a change of +2.5% from the year-ago quarter.

The collective assessment of analysts points to an estimated 'Net Sales- U.S. Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure' of $792.34 million. The estimate indicates a year-over-year change of +6.4%.

View all Key Company Metrics for Medtronic here>>>

Over the past month, shares of Medtronic have returned +7% versus the Zacks S&P 500 composite's +4.3% change. Currently, MDT carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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

To read this article on Zacks.com click here.

Zacks Investment Research