Medtronic, Inc. (MDT) Declares Quarterly Dividend of $0.31
Medtronic (NYSE:MDT) declared a quarterly dividend on Thursday, August 21st, AR Network reports. Shareholders of record on Friday, October 3rd will be given a dividend of 0.305 per share on Friday, October 24th. This represents a $1.22 dividend on an annualized basis and a yield of 1.90%.
A number of analysts have recently weighed in on MDT shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Medtronic in a research note on Monday. They now have a $71.00 price target on the stock, up previously from $69.00. On the ratings front, analysts at Cowen and Company raised their price target on shares of Medtronic from $66.00 to $76.00 in a research note on Monday. Finally, analysts at Jefferies Group upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, June 20th. They now have a $75.00 price target on the stock, up previously from $60.00. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $68.24.
Shares of Medtronic (NYSE:MDT) traded down 0.08% during mid-day trading on Thursday, hitting $64.10. The stock had a trading volume of 3,949,375 shares. Medtronic has a one year low of $51.22 and a one year high of $65.50. The stock’s 50-day moving average is $62.91 and its 200-day moving average is $60.55. The company has a market cap of $63.828 billion and a P/E ratio of 21.24. Medtronic also saw some unusual options trading activity on Monday. Investors purchased 7,099 put options on the stock. This is an increase of 228% compared to the typical daily volume of 2,165 put options.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.92 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Medtronic will post $4.05 earnings per share for the current fiscal year.
Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.
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