The company’s long-range financial targets are at least 5 percent annual organic revenue growth; a compound annual growth rate of at least 8 percent adjusted earnings per share; greater than 80 percent cash conversion ratio, with a commitment to return over 50 percent of free cash flow to shareholders; and dividend growth in line with earnings growth.
Medtronic developed five strategies to meet these financial objectives:
1. Leverage pipeline strength and recent product launches to win share in an increasing number of businesses
2. Create and disrupt large markets that have significant growth potential
3. Incorporate new technology, artificial intelligence and data and analytics into research and development
4. Allocate capital to faster-growing markets including robotics, ischemic stroke, diabetes and neuromodulation, while also boosting investment in organic R&D and creative partnerships
5. Implement a simplified operating model designed to accelerate decision making, improve commercial execution and more effectively leverage enterprise scale
More articles on devices:
Female pediatric spine team shines at Stanford
Medtronic’s Omar Ishrak to retire as chairman: 6 things to know
6 spine surgeons receiving honors
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 18–20 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
