Medtronic PLC (MDT) to Distribute Quarterly Dividend of $0.72 on October 16th

Medtronic PLC (NYSE:MDT) declared a quarterly dividend on Thursday, August 20th. Investors of record on Friday, September 25th will be given a dividend of 0.72 per share by the medical technology company on Friday, October 16th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, September 25th.

Medtronic has raised its dividend by an average of 0.0%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 47.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medtronic to earn $6.39 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 Performance

Shares of MDT opened at $90.67 on Wednesday. The company has a market cap of $115.98 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.09 and a beta of 0.56. The business’s fifty day simple moving average is $89.31 and its two-hundred day simple moving average is $84.87. Medtronic has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.Medtronic’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Research analysts anticipate that Medtronic will post 5.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDT. Rothschild & Co Redburn lowered their target price on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. TD Cowen raised their price target on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 28th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, August 10th. UBS Group increased their target price on Medtronic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Bank of America lifted their target price on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Nineteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.