Medtronic (MDT) ended the recent trading session at $91.69, demonstrating a +0.79% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.39%. On the other hand, the Dow registered a gain of 0.71%, and the technology-centric Nasdaq increased by 0.2%.

The the stock of medical device company has risen by 13.9% in the past month, leading the Medical sector's gain of 4.4% and the S&P 500's gain of 1.7%.

The investment community will be closely monitoring the performance of Medtronic in its forthcoming earnings report. The company is scheduled to release its earnings on February 18, 2025. The company's earnings per share (EPS) are projected to be $1.36, reflecting a 4.62% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.33 billion, indicating a 2.95% upward movement from the same quarter last year.

MDT's full-year Zacks Consensus Estimates are calling for earnings of $5.45 per share and revenue of $33.56 billion. These results would represent year-over-year changes of +4.81% and +3.69%, respectively.

Investors might also notice recent changes to analyst estimates for Medtronic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Medtronic holds a Zacks Rank of #3 (Hold).

Looking at valuation, Medtronic is presently trading at a Forward P/E ratio of 16.68. This valuation marks a discount compared to its industry's average Forward P/E of 18.7.

Also, we should mention that MDT has a PEG ratio of 2.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical - Products stocks are, on average, holding a PEG ratio of 2.14 based on yesterday's closing prices.

The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 136, this industry ranks in the bottom 46% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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