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

Medtronic PLC (NYSE:MDT) announced a quarterly dividend on Wednesday, June 3rd. Stockholders of record on Friday, June 26th will be paid a dividend of 0.72 per share by the medical technology company on Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. 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 increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 49 consecutive years. Medtronic has a dividend payout ratio of 47.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Medtronic to earn $6.51 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 43.6%.

Medtronic Stock Up 5.1%

Shares of NYSE MDT opened at $81.95 on Friday. The company has a 50 day simple moving average of $81.58 and a 200-day simple moving average of $92.11. The company has a market capitalization of $105.22 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.89 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts predict that Medtronic will post 5.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday. Sanford C. Bernstein restated an “outperform” rating and set a $97.00 price target on shares of Medtronic in a report on Thursday. Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Wells Fargo & Company cut their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Daiwa Securities Group cut their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a report on Friday, February 27th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.70.

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).