OneAscent Financial Services LLC Buys 527 Shares of Medtronic plc (NYSE:MDT)

OneAscent Financial Services LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 17.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,597 shares of the medical technology company’s stock after acquiring an additional 527 shares during the quarter. OneAscent Financial Services LLC’s holdings in Medtronic were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Medtronic during the fourth quarter valued at approximately $26,000. Stephens Consulting LLC grew its holdings in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. increased its position in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Medtronic in the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic during the 4th quarter valued at approximately $40,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MDT shares. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird upped their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic Price Performance

Medtronic stock opened at $82.86 on Friday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market cap of $106.28 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 2.22 and a beta of 0.80. The firm’s fifty day moving average is $90.87 and its 200 day moving average is $87.94. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

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.