Medtronic PLC (MDT) To Go Ex-Dividend on September 25th

Medtronic PLC (NYSE:MDT) announced a quarterly dividend on Thursday, August 20th. Shareholders 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 3.1%. 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 raised its dividend every year for the last 49 years. Medtronic has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.2%

MDT opened at $93.44 on Friday. The company has a market cap of $119.60 billion, a P/E ratio of 25.05, a P/E/G ratio of 2.47 and a beta of 0.55. The business’s 50-day moving average price is $84.39 and its 200-day moving average price is $86.06. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the prior year, the business posted $1.62 EPS. Medtronic’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts expect that Medtronic will post 5.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDT. Sanford C. Bernstein dropped their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Evercore set a $105.00 target price on shares of Medtronic in a research note on Monday, July 6th. Mizuho dropped their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 price target on shares of Medtronic in a report on Thursday, June 4th. Finally, Leerink Partners lowered their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.83.

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).