MDT Earnings: Medtronic announces strong Q4 financial results

Medtronic (NYSE:MDT) saw strong fiscal fourth-quarter results with adjusted diluted earnings of $1.46 per share, down 7% year-over-year. That was higher than the analyst consensus of $1.45 per share.

The medical device company reported fourth-quarter revenue of $8.6 billion, up a modest 0.5% year-over-year, beating Street estimates of $8.44 billion. The company’s revenue growth was driven by broad-based growth across all business segments, including its cardiovascular, surgical and neurology product portfolios.

Medtronic raises dividend

The company also announced that its Board of Directors has approved an increase to its first quarter fiscal 25 cash dividend to $0.70 per common share. On an annualized basis, the dividend will be $2.80 per common share.

Over the past 47 years, Medtronic has increased its dividend at a compound annual growth rate (CAGR) of 16%.

MDT FY25 Guidelines

Looking ahead, management currently expects FY25 organic revenues to grow in the range of 4% to 5% and FY25 adjusted earnings per share to be in the range of $5.40 to $5.50, an increase of 4%. % to 6%.

Is MDT a good stock to buy now?

Analysts remain cautiously optimistic about MDT stock, with a Moderate Buy consensus rating based on six Buys and four Holds. Year-to-date, MDT is up approximately 5%, and MDT’s $97.56 average price target implies a 13.8% upside potential from current levels. These analyst ratings are likely to change following MDT’s fiscal Q4 results.