In the latest trading session, Medtronic (MDT) closed at $106.11, marking a -1.53% move from the previous day. 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%.

Heading 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.

Medtronic 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.

Any 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.

Based 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.

Ranging 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).

Digging 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.

Meanwhile, 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.

The 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.

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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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