Garland Capital Management Inc. Sells 26,910 Shares of Medtronic PLC $MDT

Garland Capital Management Inc. reduced its stake in Medtronic PLC (NYSE:MDT) by 69.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,715 shares of the medical technology company’s stock after selling 26,910 shares during the quarter. Medtronic makes up approximately 3.2% of Garland Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position. Garland Capital Management Inc.’s holdings in Medtronic were worth $1,021,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MDT. Legacy Advisory Services LLC bought a new stake in Medtronic during the first quarter valued at about $541,000. GC Wealth Management RIA LLC raised its holdings in Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after acquiring an additional 5,734 shares during the period. Verdence Capital Advisors LLC raised its holdings in Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after acquiring an additional 5,296 shares during the period. RNC Capital Management LLC raised its holdings in Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after acquiring an additional 33,729 shares during the period. Finally, Sivik Global Healthcare LLC raised its holdings in Medtronic by 6.7% during the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price target on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. UBS Group lifted their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Robert W. Baird lifted their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Price Performance

Shares of Medtronic stock opened at $93.76 on Monday. The stock has a market cap of $120.26 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The stock has a 50 day moving average price of $94.32 and a 200-day moving average price of $89.42. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is 78.24%.

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.