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

Medtronic PLC (NYSE:MDT) declared a quarterly dividend on Thursday, August 20th. Shareholders of record on Friday, September 25th will be paid a dividend of 0.72 per share by the medical technology company on Friday, October 16th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend 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 dividend payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.8%

Shares of MDT stock opened at $92.45 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm’s 50 day moving average price is $84.12 and its two-hundred day moving average price is $86.01. The stock has a market cap of $118.33 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for 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 14.51%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts anticipate that Medtronic will post 5.94 EPS for the current year.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Several large investors have recently modified their holdings of MDT. Brighton Jones LLC boosted its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Sivia Capital Partners LLC boosted its stake in Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares during the period. Jump Financial LLC bought a new position in shares of Medtronic during the second quarter valued at approximately $299,000. Main Street Financial Solutions LLC grew its holdings in shares of Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after purchasing an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC raised its position in shares of Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after purchasing an additional 3,376 shares during the period. Institutional investors own 82.06% of the company’s stock.

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).