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Medtronic (MDT) Down In Pre-Market Trading

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Medtronic ( MDT) as a pre-market laggard candidate. In addition to specific proprietary factors, Trade-Ideas identified Medtronic as such a stock due to the following factors:

  • MDT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $299.2 million.
  • MDT traded 23,085 shares today in the pre-market hours as of 8:02 AM.
  • MDT is down 5% today from yesterday's close.

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More details on MDT:

Medtronic, Inc. manufactures and sells device-based medical therapies worldwide. The company operates in two segments, Cardiac and Vascular Group, and Restorative Therapies Group. The stock currently has a dividend yield of 1.9%. MDT has a PE ratio of 17.0. Currently there are 8 analysts that rate Medtronic a buy, no analysts rate it a sell, and 10 rate it a hold.

The average volume for Medtronic has been 4.9 million shares per day over the past 30 days. Medtronic has a market cap of $61.5 billion and is part of the health care sector and health services industry. The stock has a beta of 0.91 and a short float of 1.2% with 2.24 days to cover. Shares are up 4.7% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Medtronic as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • MDT's revenue growth has slightly outpaced the industry average of 2.7%. Since the same quarter one year prior, revenues slightly increased by 3.4%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Compared to its closing price of one year ago, MDT's share price has jumped by 27.22%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, MDT should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • Net operating cash flow has slightly increased to $1,612.00 million or 5.42% when compared to the same quarter last year. In addition, MEDTRONIC INC has also modestly surpassed the industry average cash flow growth rate of 3.40%.
  • MEDTRONIC INC's earnings per share declined by 22.7% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, MEDTRONIC INC increased its bottom line by earning $3.38 versus $3.24 in the prior year. This year, the market expects an improvement in earnings ($3.82 versus $3.38).

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