Medtronic Shares Dip 1.15% to $101.72 Ahead of Feb.17 Earnings
Medtronic shares fell 1.15% to close at $101.72 on Feb. 9, underperforming major indices while rising 5.51% over the past month versus the Medical sector’s 2.92% gain. Investors await Feb. 17 earnings with Q1 EPS projected at $1.33 (-4.3% y/y) on $8.9B revenue (+7.3% y/y).
1. Daily Trading Performance
Medtronic closed at $101.72 on Feb. 9, down 1.15% while the S&P 500 rose 0.47%, the Dow gained 0.04% and the Nasdaq added 0.9%. Over the past month, shares have climbed 5.51%, outpacing the Medical sector's 2.92% gain and the S&P 500's 0.16% decline.
2. Upcoming Earnings Projections
Investors are focusing on the Feb. 17 earnings release, where first-quarter EPS are projected at $1.33, a 4.3% year-over-year decline, on estimated revenue of $8.9 billion, up 7.3% year-over-year. Full-year estimates call for EPS of $5.64 (+2.7%) and revenue of $36.04 billion (+7.5%).
3. Valuation and Analyst Ranking
Medtronic trades at a forward P/E of 18.24 compared to its industry's 20.5 and a PEG ratio of 2.71 versus an industry average of 1.45, suggesting a premium to growth. The company holds a Sell rank with no EPS estimate revisions over the last 30 days.