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

Garland Capital Management Inc. lessened its position in Medtronic plc (NYSE:MDT) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 41,475 shares of the medical technology company’s stock after selling 375 shares during the quarter. Medtronic comprises approximately 2.7% of Garland Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Garland Capital Management Inc.’s holdings in Medtronic were worth $3,313,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $26,000. Darwin Wealth Management LLC bought a new position in Medtronic in the third quarter valued at $27,000. Stephens Consulting LLC increased its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter worth about $30,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MDT shares. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Barclays increased their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Stock Down 0.9 %

MDT stock opened at $90.37 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market capitalization of $115.90 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.22 and a beta of 0.80. The business’s fifty day moving average price is $90.67 and its two-hundred day moving average price is $88.08.

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

Medtronic Dividend Announcement

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

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic 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.