Medtronic PLC (NYSE:MDT) Plans Quarterly Dividend of $0.71

Medtronic PLC (NYSE:MDT) announced a quarterly dividend on Thursday, December 4th. Stockholders of record on Friday, December 26th will be given a dividend of 0.71 per share by the medical technology company on Friday, January 16th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, December 26th.

Medtronic has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 49 years. Medtronic has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Medtronic to earn $5.83 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 48.7%.

Medtronic Stock Down 0.0%

NYSE:MDT opened at $101.93 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The firm’s 50-day moving average price is $96.65 and its 200-day moving average price is $92.08. The company has a market capitalization of $130.68 billion, a PE ratio of 27.47, a P/E/G ratio of 2.69 and a beta of 0.71. Medtronic has a 1-year low of $79.29 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. Medtronic’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts predict that Medtronic will post 5.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their price objective on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Truist Financial boosted their target price on Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. Morgan Stanley raised their price target on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Finally, Daiwa Capital Markets lifted their price target on Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.44.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.