Ascent Group LLC Has $1.55 Million Stake in Medtronic PLC $MDT

Ascent Group LLC grew its stake in Medtronic PLC (NYSE:MDT) by 113.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,263 shares of the medical technology company’s stock after purchasing an additional 9,180 shares during the period. Ascent Group LLC’s holdings in Medtronic were worth $1,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. Burkett Financial Services LLC grew its position in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the last quarter. 1248 Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $26,000. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $27,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $28,000. Finally, Twin Tree Management LP acquired a new position in shares of Medtronic in the 1st quarter valued at $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. Sanford C. Bernstein increased their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Evercore ISI increased their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada dropped their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, 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 research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.14.

Medtronic Price Performance

NYSE:MDT opened at $94.04 on Wednesday. The firm has a market cap of $120.62 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $91.19 and its two-hundred day moving average price is $88.20.

Medtronic (NYSE:MDT) last released its quarterly 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 firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 78.24%.

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.