Epoch Investment Partners Inc. Decreases Stake in Medtronic PLC $MDT

Epoch Investment Partners Inc. lessened its position in shares of Medtronic PLC (NYSE:MDT) by 1.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 855,500 shares of the medical technology company’s stock after selling 13,410 shares during the period. Epoch Investment Partners Inc. owned about 0.07% of Medtronic worth $74,129,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the last quarter. State Street Corp grew its position in shares of Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after buying an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after acquiring an additional 1,419,730 shares in the last quarter. Capital Research Global Investors lifted its position in Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after acquiring an additional 231,919 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MDT. TD Cowen reduced their target price on Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Leerink Partners decreased their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Medtronic in a report on Tuesday, June 16th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.21.

Medtronic Trading Up 1.4%

NYSE:MDT opened at $83.12 on Friday. The firm has a market cap of $106.40 billion, a P/E ratio of 22.28, a PEG ratio of 2.20 and a beta of 0.56. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $80.15 and its 200-day simple moving average is $87.52. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The firm 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 14.51% and a net margin of 13.20%.The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities 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 was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. Medtronic’s payout ratio is presently 77.21%.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were 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 owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company 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).