Trinity Legacy Partners LLC Increases Position in Medtronic PLC $MDT

Trinity Legacy Partners LLC lifted its holdings in Medtronic PLC (NYSE:MDT) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,159 shares of the medical technology company’s stock after buying an additional 708 shares during the period. Medtronic makes up approximately 1.3% of Trinity Legacy Partners LLC’s portfolio, making the stock its 28th biggest holding. Trinity Legacy Partners LLC’s holdings in Medtronic were worth $5,401,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MDT. Burkett Financial Services LLC lifted its stake in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. 1248 Management LLC purchased a new position in Medtronic in the first quarter valued at approximately $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in Medtronic in the first quarter valued at approximately $29,000. Finally, Activest Wealth Management lifted its stake in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.8%

MDT opened at $95.57 on Friday. The stock has a market cap of $122.59 billion, a PE ratio of 26.33, a P/E/G ratio of 2.50 and a beta of 0.78. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The business’s fifty day simple moving average is $92.85 and its 200 day simple moving average is $88.46.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. 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 presently 78.24%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MDT. William Blair raised shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Truist Financial boosted their target price on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday, August 21st. Finally, Mizuho boosted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

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.