Garland Capital Management Inc. Lowers Stock Position in Medtronic PLC $MDT

Garland Capital Management Inc. decreased its position in shares of Medtronic PLC (NYSE:MDT) by 74.6% during the third quarter, HoldingsChannel reports. The firm owned 2,980 shares of the medical technology company’s stock after selling 8,735 shares during the period. Medtronic makes up approximately 3.9% of Garland Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Garland Capital Management Inc.’s holdings in Medtronic were worth $284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Spinnaker Trust raised its stake in shares of Medtronic by 1.4% during the third quarter. Spinnaker Trust now owns 22,278 shares of the medical technology company’s stock worth $2,122,000 after acquiring an additional 310 shares in the last quarter. Coston McIsaac & Partners grew its holdings in shares of Medtronic by 0.3% during the 3rd quarter. Coston McIsaac & Partners now owns 56,021 shares of the medical technology company’s stock valued at $5,334,000 after purchasing an additional 142 shares during the last quarter. SlateStone Wealth LLC raised its position in Medtronic by 4.3% in the 3rd quarter. SlateStone Wealth LLC now owns 61,840 shares of the medical technology company’s stock worth $5,890,000 after purchasing an additional 2,556 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Medtronic by 7.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 92,269 shares of the medical technology company’s stock worth $8,788,000 after purchasing an additional 6,400 shares during the period. Finally, Guinness Atkinson Asset Management Inc purchased a new position in shares of Medtronic in the third quarter worth about $7,298,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MDT. Truist Financial reduced their price target on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, November 19th. TD Cowen reissued a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Finally, William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.67.

Medtronic Stock Down 0.1%

MDT stock opened at $102.89 on Friday. The company has a market capitalization of $131.91 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.71 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The business’s 50 day moving average price is $99.40 and its two-hundred day moving average price is $96.10. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is 76.55%.

Medtronic Company Profile

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).