Medtronic plc. (NYSE:MDT) announced a quarterly dividend on Friday, December 8th, Zacks reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.46 per share by the medical technology company on Friday, January 19th. This represents a $1.84 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 28th.
Medtronic has increased its dividend by an average of 24.2% per year over the last three years and has raised its dividend every year for the last 39 years. Medtronic has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Medtronic to earn $5.15 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 35.7%.
Medtronic (MDT) traded up $0.06 on Friday, hitting $81.54. The stock had a trading volume of 3,187,505 shares, compared to its average volume of 5,580,000. The company has a market cap of $110,280.00, a P/E ratio of 22.40, a PEG ratio of 2.25 and a beta of 1.00. Medtronic has a 52 week low of $69.35 and a 52 week high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.
Several brokerages recently weighed in on MDT. Stifel Nicolaus increased their target price on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Northland Securities restated a “hold” rating and set a $80.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, November 23rd. Finally, Jefferies Group restated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.57.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 48,000 shares of company stock valued at $3,837,920. 0.31% of the stock is currently owned by insiders.
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Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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