Epoch Investment Partners Inc. Sells 49,576 Shares of Medtronic PLC $MDT

Epoch Investment Partners Inc. reduced its stake in Medtronic PLC (NYSE:MDT) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 868,910 shares of the medical technology company’s stock after selling 49,576 shares during the period. Epoch Investment Partners Inc. owned approximately 0.07% of Medtronic worth $83,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership lifted its position in shares of Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after acquiring an additional 31,314 shares during the period. CSM Advisors LLC boosted its holdings in shares of Medtronic by 13.2% in the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in shares of Medtronic by 164.8% in the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after purchasing an additional 15,062 shares in the last quarter. Madison Asset Management LLC boosted its holdings in shares of Medtronic by 15.0% in the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after purchasing an additional 25,527 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Medtronic by 17.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock valued at $8,316,000 after purchasing an additional 13,177 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reduced their target price on Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Daiwa Securities Group reduced their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Robert W. Baird reduced their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, June 3rd. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Stock Down 0.3%

Shares of MDT opened at $80.11 on Friday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The stock has a market capitalization of $102.85 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock has a fifty day moving average of $80.85 and a 200-day moving average of $91.38.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the prior year, the company earned $1.62 EPS. Medtronic’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 76.14%.

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).