20,122 Shares in Medtronic PLC (NYSE:MDT) Purchased by Trivium Point Advisory LLC

Key Points

• Trivium Point Advisory LLC recently acquired 20,122 shares of Medtronic PLC, valued at approximately $1,808,000, signaling confidence in the company's performance.
• Medtronic reported a quarterly EPS of $1.62, exceeding analyst expectations, and saw a revenue increase of 3.9% year-over-year, reaching $8.93 billion.
• The company has recently increased its quarterly dividend to $0.71 per share, reflecting a positive change and a 3.1% yield for investors.

Trivium Point Advisory LLC purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,122 shares of the medical technology company's stock, valued at approximately $1,808,000.

Other large investors have also recently made changes to their positions in the company. Burkett Financial Services LLC raised its stake in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic in the fourth quarter worth $27,000. Columbia River Financial Group LLC purchased a new position in shares of Medtronic in the first quarter worth $28,000. Optiver Holding B.V. purchased a new position in shares of Medtronic in the fourth quarter worth $31,000. Finally, Hughes Financial Services LLC purchased a new position in shares of Medtronic in the first quarter worth $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Citigroup lifted their target price on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Evercore ISI lifted their target price on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Robert W. Baird decreased their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Mizuho lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $98.19.

Medtronic Stock Up 1.1%

Shares of MDT stock traded up $1.00 during mid-day trading on Friday, reaching $92.98. 6,640,563 shares of the company's stock traded hands, compared to its average volume of 6,445,581. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The company has a market cap of $119.18 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.42 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company's 50-day moving average price is $89.32 and its 200-day moving average price is $87.98.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The company's quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is 78.45%.

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.