ASO GROUP Ltd Buys New Stake in Medtronic PLC $MDT

ASO GROUP Ltd bought a new stake in Medtronic PLC (NYSE:MDT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 41,914 shares of the medical technology company’s stock, valued at approximately $4,026,000. Medtronic comprises 1.6% of ASO GROUP Ltd’s investment portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new stake in Medtronic in the fourth quarter valued at about $27,000. Anfield Capital Management LLC boosted its position in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic in the fourth quarter valued at about $29,000. GoalVest Advisory LLC acquired a new position in Medtronic in the fourth quarter valued at about $29,000. Finally, Imprint Wealth LLC acquired a new position in Medtronic in the third quarter valued at about $31,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.0%

MDT opened at $80.28 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The company has a market cap of $103.07 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.58. The firm has a 50 day simple moving average of $80.97 and a 200 day simple moving average of $91.46. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s payout ratio is currently 76.14%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. UBS Group reduced their price target on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Wells Fargo & Company reduced their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. The Goldman Sachs Group reduced their target price on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Stifel Nicolaus set a $80.00 target price on shares of Medtronic in a research report on Wednesday, June 3rd. Finally, Rothschild & Co Redburn reduced their target price on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.00.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).