Medtronic (MDT) closed the latest trading day at $88.98, indicating a +0.85% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.33%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, lost 0.53%.

The medical device company's stock has dropped by 2.59% in the past month, exceeding the Medical sector's loss of 3.24% and the S&P 500's loss of 4.03%.

The upcoming earnings release of Medtronic will be of great interest to investors. The company's earnings report is expected on May 21, 2025. The company's earnings per share (EPS) are projected to be $1.58, reflecting an 8.22% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.81 billion, indicating a 2.57% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.46 per share and a revenue of $33.48 billion, representing changes of +5% and +3.44%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Medtronic. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Medtronic possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Medtronic has a Forward P/E ratio of 16.17 right now. For comparison, its industry has an average Forward P/E of 18.38, which means Medtronic is trading at a discount to the group.

One should further note that MDT currently holds 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.08 based on yesterday's closing prices.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% 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