Garland Capital Management Inc. Decreases Stake in Medtronic PLC $MDT

Garland Capital Management Inc. lessened its holdings in Medtronic PLC (NYSE:MDT) by 74.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 portfolio, making the stock its 15th biggest holding. Garland Capital Management Inc.’s holdings in Medtronic were worth $284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MDT. Riverbend Wealth Management LLC increased its position in shares of Medtronic by 3.2% during the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 107 shares during the last quarter. Wynn Capital LLC grew its position in Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after buying an additional 110 shares during the period. Meridian Investment Counsel Inc. increased its holdings in Medtronic by 0.4% during the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after buying an additional 110 shares during the last quarter. Saxony Capital Management LLC raised its position in Medtronic by 3.8% in the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after acquiring an additional 112 shares during the period. Finally, Cape Investment Advisory Inc. boosted its stake in Medtronic by 3.2% in the second quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after acquiring an additional 113 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.1%

MDT stock opened at $102.89 on Friday. The stock has a 50-day simple moving average of $99.40 and a two-hundred day simple moving average of $96.10. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The firm has a market capitalization of $131.91 billion, a PE ratio of 27.73, a PEG ratio of 2.71 and a beta of 0.71. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

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

Medtronic Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s payout ratio is presently 76.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MDT shares. Truist Financial lowered their price target on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Jefferies Financial Group restated a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, November 19th. JPMorgan Chase & Co. increased their price target on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, UBS Group reiterated a “neutral” rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.67.

Medtronic 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).