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

OneAscent Financial Services LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 17.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,597 shares of the medical technology company’s stock after buying an additional 527 shares during the quarter. OneAscent Financial Services LLC’s holdings in Medtronic were worth $287,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Copley Financial Group Inc. bought a new stake in Medtronic in the 3rd quarter worth $694,000. Franklin Street Advisors Inc. NC grew its stake in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after purchasing an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after purchasing an additional 56,178 shares during the period. Olstein Capital Management L.P. raised its position in Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock valued at $7,509,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Czech National Bank lifted its holdings in Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after buying an additional 16,786 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Down 5.7 %

Medtronic stock opened at $82.86 on Friday. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $90.87 and its two-hundred day simple moving average is $87.94. The company has a market capitalization of $106.28 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for 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%. As a group, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.