"Is Medtronic Making Efficient Use Of Its Profits?
With a high three-year median payout ratio of 87% (implying that 13% of the profits are retained), most of Medtronic's profits are being paid to shareholders, which explains the company's shrinking earnings. The business is only left with a small pool of capital to reinvest - A vicious cycle that doesn't benefit the company in the long-run."
"Summary
In total, we would have a hard think before deciding on any investment action concerning Medtronic. The company has seen a lack of earnings growth as a result of retaining very little profits and whatever little it does retain, is being reinvested at a very low rate of return."