Medtronic saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 79 to 83.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
While the stock is not near a proper buy point right now, see if it is able to form and break out from a proper chart pattern.
Earnings growth moved up last quarter from 1% to 7%, but revenue fell from 5% to 3%.
The company earns the No. 18 rank among its peers in the Medical-Products industry group. Boston Scientific, Axogen and Penumbra are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
