SAN DIEGO - Sempra (NYSE: SRE) (BMV: SRE), a prominent North American energy infrastructure company, has announced the appointment of Jennifer M. Kirk to its board of directors, effective today. The addition of Kirk, the global controller and chief accounting officer at Medtronic plc (NYSE: NYSE:MDT), marks a continued effort by Sempra to diversify its board with varied expertise.
Kirk brings to Sempra over two decades of experience in the energy sector, having held several senior positions at Occidental Petroleum Corporation (NYSE:OXY), including senior vice president of integration and value capture, and vice president, controller and principal accounting officer.
Her extensive background in finance, accounting, and capital market activities is expected to complement Sempra's corporate strategy and oversight of financial discipline, risk management, and ethical practices.
Sempra's chairman and CEO, Jeffrey W. Martin, emphasized the importance of bringing new perspectives to the boardroom to support the company's mission of becoming North America's premier energy infrastructure company. He noted that the board's diverse skills, experiences, and viewpoints are crucial for guiding Sempra's strategy and business success.
Kirk also serves on the board of directors of Republic Services (NYSE:RSG), where she is the chair of the audit committee. She holds a bachelor's degree in economics from UC Santa Barbara and a master's degree in business administration from California State University, Bakersfield. At Sempra, Kirk will join the board's audit committee and the safety, sustainability, and technology committee.
With Kirk's appointment, the Sempra board now comprises 10 directors, three of whom have been elected in the past five years. This reflects the company's commitment to refreshing the board periodically to ensure it benefits from fresh and diverse perspectives.
Sempra owns one of the largest energy networks in North America, providing energy to nearly 40 million consumers. The company is known for its sustainable business practices and high-performance culture, which have earned it a place in the Dow Jones Sustainability Index North America and recognition in The Wall Street Journal's Best Managed Companies.
This announcement is based on a press release statement from Sempra.
In other recent news, Medtronic PLC has experienced several significant developments. The company has been maintaining steady performance in the market, as evidenced by its recent earnings and revenue results.
Medtronic reported fourth-quarter revenue of $8.59 billion and earnings per share (EPS) of $1.46, surpassing Wall Street expectations. The company has also set its fiscal year 2025 guidance for an organic sales growth of 4-5% and an EPS in the range of $5.40-$5.50.
In the realm of analyst ratings, Goldman Sachs has downgraded Medtronic's stock to a Sell rating with a price target of $83.00, citing concerns about the need for increased investment to sustain growth.
Conversely, TD Cowen has maintained a positive outlook on the company, reiterating a Buy rating and a stock price target of $95.00. Baird, however, has adjusted its financial outlook for Medtronic, reducing the price target to $87 while keeping a Neutral stance on the stock.
The company has also announced the pricing of a multi-tranche offering of senior notes totaling €3 billion, with the proceeds to be allocated for general corporate purposes. In terms of product developments, Medtronic is expected to see an acceleration in sales growth fueled by the launch of new products.
These include the Symplicity Spyral catheter, PFA technology, and Hugo surgical robot, which are anticipated to contribute to growth acceleration. These are the recent developments surrounding Medtronic PLC.
InvestingPro Insights
As Jennifer M. Kirk joins the board of Sempra, her current role as the global controller and chief accounting officer at Medtronic plc (NYSE: MDT) is noteworthy for investors considering the financial health and market position of Medtronic. Medtronic, a leading company in the Healthcare Equipment & Supplies industry, has a robust market capitalization of $105.34 billion, reflecting its significant presence and stability in the market.
Investors looking at Medtronic's financials will find a company with a strong track record of shareholder returns, as highlighted by two key InvestingPro Tips. Firstly, Medtronic has raised its dividend for 10 consecutive years, showcasing a commitment to consistent shareholder payouts. Moreover, the company has maintained dividend payments for an impressive 48 consecutive years, indicating a stable financial structure capable of supporting ongoing dividend distribution.
From a valuation standpoint, Medtronic's Price/Earnings (P/E) Ratio stands at 28.92, with an adjusted P/E Ratio for the last twelve months as of Q4 2024 at 20.97. This suggests that the company's earnings are valued relatively higher than the market average, which could be attributed to its solid market position and investor confidence in its future growth. The Gross Profit Margin of 65.82% for the same period indicates a strong ability to retain earnings after the cost of goods sold, which is crucial for long-term sustainability.
For investors seeking further insights and analysis, there are additional InvestingPro Tips available, which can be accessed through Medtronic's dedicated page at https://www.investing.com/pro/MDT. By using the coupon code PRONEWS24, readers can obtain an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of investment knowledge and data-driven insights.
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