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This change lagged the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.\nHeading into today, shares of the medical device company had gained 6.34% over the past month, outpacing the Medical sector's loss of 7.84% and the S&P 500's loss of 1.81% in that time.\nMedtronic will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.38, up 6.98% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.96 billion, up 2.38% from the year-ago period.\nAny recent changes to analyst estimates for Medtronic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.\nBased on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.\nRanging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. Medtronic currently has a Zacks Rank of #4 (Sell).\nDigging into valuation, Medtronic currently has a Forward P/E ratio of 18.93. This represents a discount compared to its industry's average Forward P/E of 21.81.\nMeanwhile, MDT's PEG ratio is currently 2.84. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MDT's industry had an average PEG ratio of 1.57 as of yesterday's close.\nThe Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 26% of all 250+ industries.\nThe 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.\nBe sure to follow all of these stock-moving metrics, and many more, on Zacks.com.\nMedtronic PLC (MDT) - free report >>\nOur experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next 30-90 days.\nRecent stocks from this report have soared up to +178.7% in 3 months - this month's picks could be even better. See our report's 7 new picks today - it's really free!\nThis page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.\nAt the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +23.96% per year. These returns cover a period from January 1, 1988 through October 2, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.\n\nSource: Zacks Investment Research\n", "timestamp_ms": 1642719018000, "published_utc": "2022-01-20T22:50:18Z", "article_url": "https://www.zacks.com/stock/news/1855056/medtronic-mdt-dips-more-than-broader-markets-what-you-should-know", "label_type": [ "[1][b] Stock Market Updates", "[2][a] Fundamental Analysis", "[2][c] Stock Recommendations" ], "label_time": [ "[2][a] Real-Time Market Developments", "[1][a] Short-Term Retrospective (\u2264 3 months)" ], "label_sentiment": [ "[3][a] Bearish" ] }, "trend": { "input_percentage_change": 4.140327670362093, "input_bin_label": ">+4%", "output_percentage_change": -2.862909486104633, "output_bin_label": "-2% ~ -4%", "overall_percentage_change": 1.5740285292670873, "overall_bin_label": "-2% ~ +2%" }, "technical": { "in_sma_10": [ 101.65, 101.525, 101.43, 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