12 High Yield Fortune 500 Stocks to Buy Now

7. Medtronic plc (NYSE:MDT)

Dividend Yield as of June 11: 3.59%

Next on our list of the Best Fortune 500 Dividend Stocks is Medtronic plc (NYSE:MDT). The company develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients in the United States, Ireland, and internationally.

On June 5, Bernstein analyst Lee Hambright lowered the firm’s price target on Medtronic plc (NYSE:MDT) from $112 to $97, but maintained an ‘Outperform’ rating on the shares. The trimmed target, which still represents an upside of over 21% from the current levels, comes following the company’s solid Q4 2026 report on June 3.

Medtronic plc (NYSE:MDT) exceeded Wall Street expectations in both profits and revenue in the fourth quarter, buoyed by the steady demand for its heart devices used in complex cardiac procedures. The company’s Cardiac Ablation Solutions revenue surged by 78% globally, including 124% growth in the United States, which increased its market share in the country by 8 points.

Medtronic plc (NYSE:MDT) is targeting organic revenue growth of 6.75% to 7.25% in FY 2027, including approximately 11.5% to 12% organic growth in the first quarter. This compares to a YoY growth of  5.8% in FY26. Moreover, the company is expecting an adjusted annual profit in the range of $5.90 to $6 per share for the coming year, below ⁠the $6.06 per ​share analysts were projecting.

Medtronic plc (NYSE:MDT) also declared a quarterly dividend of $0.72 per share, up 1.4% from its prior dividend of $0.71. The dividend is payable on June 17 to shareholders as of the June 26 record.

After a softer EPS growth over the last four years, Bernstein wants to see Medtronic overcome EPS headwinds and deliver better than its guidance.