Medtronic PLC (MDT) to Issue Quarterly Dividend of $0.72 on July 17th

Medtronic PLC (NYSE:MDT) declared a quarterly dividend on Wednesday, June 3rd. Stockholders of record on Friday, June 26th will be given a dividend of 0.72 per share by the medical technology company on Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. This is a 1.4% increase from Medtronic’s previous quarterly dividend of $0.71.

Medtronic has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 49 years. Medtronic has a payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Medtronic to earn $6.38 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 45.1%.

Medtronic Stock Up 1.8%

Shares of Medtronic stock opened at $80.69 on Wednesday. The company has a market cap of $103.29 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The company’s 50 day moving average is $79.83 and its 200 day moving average is $90.10. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts anticipate that Medtronic will post 5.94 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Cowen restated a “buy” rating and issued a $119.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Truist Financial reduced their price objective on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. UBS Group lowered their target price on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Needham & Company LLC reissued a “buy” rating and issued a $101.00 target price on shares of Medtronic in a research report on Wednesday, June 17th. Finally, Daiwa Securities Group cut their price target on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).