12 Best Long-Term Dividend Stocks to Invest in Right Now

4. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 60

Medtronic plc (NYSE:MDT) ranks fourth on our list of the best dividend stocks for the long term. The medical device company has a diversified business, offering a wide range of devices across four key sectors: medical-surgical, neuroscience, cardiovascular, and diabetes. Earlier this year, the company received US approval for its Simplera continuous glucose monitoring (CGM) system. Moreover, Medtronic formed a partnership with Abbott Laboratories, a leader in the CGM market. Abbott will provide a CGM compatible with Medtronic’s devices, which will be exclusively sold by Medtronic. This partnership highlights the company’s ongoing efforts to innovate and advance its diabetes business.

In fiscal Q2 2025, Medtronic plc (NYSE:MDT) reported revenue of $8.4 billion, which showed a 5.3% growth from the same period last year. The company’s Diabetes revenue for the quarter came in at $686 million, experiencing a 12.4% growth on a YoY basis. International revenue saw a low double-digit increase, driven by higher attachment rates for continuous glucose monitoring (CGM) and the ongoing launch of the Simplera Sync sensor.

In the first six months of its fiscal year, Medtronic plc (NYSE:MDT) reported an operating cash flow of nearly $2 billion, up from $1.5 billion in the prior-year period. The company’s free cash flow of $1.02 billion also grew from $721 million in the same quarter last year. This cash position allowed the company to grow its payouts for 47 consecutive years. It currently offers a quarterly dividend of $0.70 per share and has a dividend yield of 3.38%, as of December 11.

Medtronic plc (NYSE:MDT) was a popular buy among elite funds at the end of Q3 2024, with hedge fund positions growing to 60, from 52 in the previous quarter, according to Insider Monkey’s database. The stakes held by these hedge funds have a consolidated value of more than $4.2 billion. With roughly 10 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q3.