Trivium Point Advisory LLC Raises Position in Medtronic PLC $MDT

Key Points

• Trivium Point Advisory LLC increased its stake in Medtronic PLC by 28.2%, acquiring a total of 25,805 shares worth approximately $2.25 million by the end of the second quarter.
• Medtronic reported earnings of $1.26 per share for the last quarter, exceeding analysts' expectations of $1.23 by $0.03, with a revenue increase of 7.7% year-over-year.
• The company announced a quarterly dividend of $0.71 per share, representing an annualized dividend of $2.84 and a yield of 3.0%, with an ex-dividend date set for September 26.

Trivium Point Advisory LLC grew its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 28.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,805 shares of the medical technology company's stock after purchasing an additional 5,683 shares during the quarter. Trivium Point Advisory LLC's holdings in Medtronic were worth $2,249,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MDT. Boston Partners lifted its stake in shares of Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock worth $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC purchased a new position in shares of Medtronic during the 1st quarter worth $260,649,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 0.2%

Shares of NYSE MDT opened at $94.00 on Tuesday. 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 $120.57 billion, a P/E ratio of 25.89, a P/E/G ratio of 2.48 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $92.66 and a 200 day moving average price of $88.36.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Citigroup increased their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Finally, Mizuho increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and an average price target of $102.27.

Insider Buying and Selling at Medtronic

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

About Medtronic

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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