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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Medtronic PLC | NYSE:MDT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.91 | 1.12% | 82.29 | 82.3457 | 80.88 | 80.95 | 8,732,274 | 01:00:00 |
From May 2019 to May 2024
By Keith Collins
Medtronic PLC raised its annual organic revenue growth outlook to at least 5% from a previous long-range target of at least 4%.
The Dublin medical-technology company said Wednesday it expects adjusted per-share earnings compound annual growth of at least 8% over the long term, assuming modest currency volatility.
Medtronic said it is targeting a cash conversion ratio of more than 80%, and is committing to return over 50% of its free cash flow to shareholders.
The company said it expects its revenue-growth strategy will drive strong double-digit total shareholder return.
"Prioritizing investments in innovation where we see the best opportunities, along with our ongoing focus on driving productivity, will enable us to achieve our long-range targets and generate strong shareholder value," Chief Financial Officer Karen Parkhill said.
Medtronic said it expects dividend growth to be in line with its earnings growth.
Write to Keith Collins at keith.collins@wsj.com
(END) Dow Jones Newswires
October 14, 2020 07:34 ET (11:34 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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