Poehling Capital Management INC. Has $5.60 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Poehling Capital Management INC. increased its holdings in Medtronic plc (NYSE:MDT) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 70,112 shares of the medical technology company’s stock after buying an additional 310 shares during the quarter. Medtronic comprises approximately 1.4% of Poehling Capital Management INC.’s portfolio, making the stock its 20th largest holding. Poehling Capital Management INC.’s holdings in Medtronic were worth $5,601,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. grew its stake in Medtronic by 8.0% during the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after buying an additional 7,000 shares during the last quarter. Empowered Funds LLC grew its stake in Medtronic by 2.7% during the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after buying an additional 2,778 shares during the last quarter. Caprock Group LLC grew its stake in Medtronic by 12.6% during the fourth quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company’s stock worth $3,849,000 after buying an additional 5,363 shares during the last quarter. Synergy Asset Management LLC grew its stake in Medtronic by 107.1% during the fourth quarter. Synergy Asset Management LLC now owns 227,802 shares of the medical technology company’s stock worth $19,353,000 after buying an additional 117,809 shares during the last quarter. Finally, Equitable Trust Co. grew its stake in Medtronic by 91.7% during the fourth quarter. Equitable Trust Co. now owns 39,645 shares of the medical technology company’s stock worth $3,167,000 after buying an additional 18,968 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MDT. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the company 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average price target of $96.14.

Medtronic Stock Performance

Shares of Medtronic stock opened at $84.52 on Thursday. The firm has a fifty day moving average of $85.54 and a two-hundred day moving average of $86.56. The stock has a market capitalization of $108.40 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.36%. This is a boost from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s dividend payout ratio (DPR) is currently 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.