Medtronic PLC (NYSE:MDT) Plans Quarterly Dividend of $0.72

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 3.7%. 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 0.1%annually over the last three years and has increased its dividend annually for the last 49 consecutive years. Medtronic has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medtronic to earn $6.08 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 46.7%.

Medtronic Price Performance

Shares of NYSE MDT opened at $78.09 on Thursday. The stock has a market capitalization of $100.25 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.76 and a beta of 0.58. Medtronic has a 12 month low of $73.31 and a 12 month high of $106.33. The firm’s 50 day simple moving average is $81.67 and its 200-day simple moving average is $92.21. 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 (NYSE:MDT) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 14.82% and a net margin of 13.00%.The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts expect that Medtronic will post 5.54 EPS for the current year.

Hedge Funds Weigh In On Medtronic

Several hedge funds and other institutional investors have recently made changes to their positions in MDT. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $27,000. Anfield Capital Management LLC boosted its stake in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the period. Monetary Solutions Ltd acquired a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic during the 4th quarter worth about $29,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

About Medtronic

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).