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

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

Several other large investors have also bought and sold shares of MDT. Lodestone Wealth Management LLC bought a new position in Medtronic during the 4th quarter worth $27,000. Anfield Capital Management LLC raised its position in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Medtronic during the 4th quarter worth $29,000. GoalVest Advisory LLC bought a new position in Medtronic during the 4th quarter worth $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in Medtronic during the 4th quarter worth $29,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. Piper Sandler lowered their target price on Medtronic from $91.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. UBS Group lowered their target price on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Citigroup decreased their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Sanford C. Bernstein decreased their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Stock Performance

Shares of Medtronic stock opened at $80.11 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $80.85 and a two-hundred day moving average price of $91.38. The company has a market cap of $102.85 billion, a P/E ratio of 21.48, a PEG ratio of 2.30 and a beta of 0.58. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

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

Medtronic Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is 76.14%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

About Medtronic

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).