Medtronic (NYSE:MDT) has raised its annual dividend 8% and has added another 75 million shares in buyback authorization. Medtronic shares took a dip in trading this morning, but are up since the news early this afternoon. The company has doubled its dividend in the last five years, and completed $9 billion in share repurchases in the last six years.
Sagent Pharmaceuticals (NASDAQ:SGNT) shares are down 5.52% after Needham downgraded them on valuation, saying the stock has already reached their 12-month price target set just three weeks ago when they initiated coverage. Since its April IPO, the stock is up 62%.
Rite Aid (NYSE:RAD) has reported a first quarter earnings-per-share loss of 7 cents, well below projected 5 cent gains. However, revenue, down 0.1% year-over-year, came in at $30 million above projected with $6.39 billion. Shares are up 3.64% today.
Pfizer (NYSE:PFE) and Bristol Myers (NYSE:BMY) have both gained today after announcing late in the day yesterday that their joint venture, a blood thinner called Eliquis, has done well in the trial phase and has the potential to compete with other top blood thinners like Boehringer‘s drug, Pradaxa, and Bayer (PINK:BAYRY) and Johnson & Johnson‘s (NYSE:JNJ) drug, Xarelto.