5 Best Dividend Stocks with Upside Potential

In this article, we discuss 5 best dividend stocks with upside potential. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 13 Best Dividend Stocks with Upside Potential. 

5. Medtronic plc (NYSE:MDT)

Upside Potential as of November 17: 19.9%

Medtronic plc (NYSE:MDT) is a global medical technology company that specializes in developing and manufacturing medical devices and therapies to improve the lives of people with various health conditions. On August 17, the company announced a quarterly dividend of $0.69 per share, which was in line with its previous dividend. It is one of the best dividend stocks on our list as the company has raised its dividends for 46 consecutive years. The stock has a dividend yield of 3.70%, as of November 17.

The number of hedge funds tracked by Insider Monkey owning stakes in Medtronic plc (NYSE:MDT) grew to 63 in Q2 2023, from 52 in the preceding quarter. The collective value of these stakes is more than $1.86 billion. With roughly 5.5 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q2.