Garland Capital Management Inc. Has $3.31 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Garland Capital Management Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,475 shares of the medical technology company’s stock after selling 375 shares during the period. Medtronic comprises 2.7% of Garland Capital Management Inc.’s portfolio, making the stock its 21st biggest holding. Garland Capital Management Inc.’s holdings in Medtronic were worth $3,313,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in Medtronic in the 4th quarter valued at $302,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Medtronic in the 4th quarter valued at $522,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of Medtronic in the 4th quarter worth about $15,409,000. Kiker Wealth Management LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $530,000. Finally, AllSquare Wealth Management LLC lifted its holdings in Medtronic by 24.6% during the 4th quarter. AllSquare Wealth Management LLC now owns 6,084 shares of the medical technology company’s stock valued at $486,000 after purchasing an additional 1,200 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MDT shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $96.07.

Insider Activity

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Medtronic Stock Down 0.9 %

NYSE:MDT opened at $90.37 on Friday. The stock’s fifty day simple moving average is $90.67 and its 200-day simple moving average is $88.08. The firm has a market capitalization of $115.90 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. Medtronic’s dividend payout ratio is 85.11%.

Medtronic Company Profile

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.