Triton Financial Group Inc Invests $906,000 in Medtronic PLC $MDT

Key Points

• Triton Financial Group Inc invested approximately $906,000 in Medtronic PLC by purchasing 10,391 shares, as reported in a recent SEC filing.
• Medtronic's recent earnings report showed an EPS of $1.26, beating estimates, with a year-over-year revenue increase of 7.7%.
• The company declared a quarterly dividend of $0.71 per share, suggesting a 3.0% yield, with a dividend payout ratio of 78.24%.

Triton Financial Group Inc purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,391 shares of the medical technology company's stock, valued at approximately $906,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after acquiring an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock valued at $2,001,903,000 after acquiring an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock valued at $1,858,332,000 after purchasing an additional 756,192 shares during the period. Deutsche Bank AG grew its holdings in shares of Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock valued at $1,708,220,000 after purchasing an additional 566,155 shares during the period. Finally, Invesco Ltd. increased its position in Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling

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

Medtronic Trading Up 0.2%

MDT opened at $95.97 on Tuesday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $94.13 and a 200-day simple moving average of $89.08. The firm has a market cap of $123.10 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the company earned $1.23 EPS. Medtronic's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio is 78.24%.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. The Goldman Sachs Group decreased their price objective on Medtronic from $82.00 to $81.00 and set a "sell" rating on the stock in a report on Wednesday, October 1st. Citigroup increased their price objective on Medtronic from $101.00 to $112.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Argus raised their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, Evercore ISI increased their price target on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.82.

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.

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