OneAscent Financial Services LLC Acquires 410 Shares of Medtronic plc (NYSE:MDT)

OneAscent Financial Services LLC increased its holdings in Medtronic plc (NYSE:MDT) by 15.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,070 shares of the medical technology company’s stock after purchasing an additional 410 shares during the quarter. OneAscent Financial Services LLC’s holdings in Medtronic were worth $279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in Medtronic during the 2nd quarter worth approximately $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic in the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at $43,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 2.9 %

NYSE MDT opened at $85.01 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $109.02 billion, a P/E ratio of 28.72, a PEG ratio of 2.50 and a beta of 0.84. The business has a fifty day simple moving average of $89.30 and a 200 day simple moving average of $84.84. Medtronic plc has a 12 month low of $74.66 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company posted $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MDT has been the topic of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday. Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus raised their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Piper Sandler boosted their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.80.

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.