Trexquant Investment LP Invests $3.01 Million in Medtronic PLC $MDT

Key Points

• Trexquant Investment LP has acquired a new stake in Medtronic PLC, purchasing 33,450 shares valued at approximately $3,006,000 during the 1st quarter.
• Medtronic recently beat analysts' earnings estimates for the quarter, reporting $1.26 EPS versus the expected $1.23, along with a net revenue of $8.58 billion.
• The company announced a quarterly dividend of $0.71 per share, reflecting a yield of 3.0% and a payout ratio of 78.24%.

Trexquant Investment LP purchased a new position in Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,450 shares of the medical technology company's stock, valued at approximately $3,006,000.

Several other institutional investors also recently added to or reduced their stakes in MDT. Dunhill Financial LLC increased its position in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. increased its position in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares during the period. Petros Family Wealth LLC increased its position in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after purchasing an additional 127 shares during the period. Motco increased its position in Medtronic by 27.0% during the 1st quarter. Motco now owns 635 shares of the medical technology company's stock valued at $57,000 after purchasing an additional 135 shares during the period. Finally, Baker Avenue Asset Management LP increased its position in Medtronic by 3.1% during the 1st quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company's stock valued at $410,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Leerink Partners assumed coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. William Blair raised shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. UBS Group lifted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Evercore ISI lifted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Argus lifted their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.14.

Medtronic Stock Performance

MDT stock traded up $0.08 during trading on Friday, reaching $92.93. The company had a trading volume of 4,856,702 shares, compared to its average volume of 7,029,722. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The firm has a 50-day simple moving average of $90.97 and a 200-day simple moving average of $88.13. The company has a market cap of $119.20 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is 78.24%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by insiders.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.