Epoch Investment Partners Inc. Has $85.56 Million Stake in Medtronic PLC $MDT

Key Points

• Epoch Investment Partners Inc. has decreased its stake in Medtronic PLC by 4.4%, now owning $85.56 million worth of shares as of the latest SEC filing.
• Medtronic recently reported earnings of $1.26 per share for the quarter, exceeding analyst expectations and showing a 7.7% increase in revenue year-over-year.
• A quarterly dividend of $0.71 per share has been announced, with a dividend yield of 3.1%, reflecting Medtronic's commitment to returning value to shareholders.

Epoch Investment Partners Inc. reduced its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 952,165 shares of the medical technology company's stock after selling 44,207 shares during the period. Epoch Investment Partners Inc. owned 0.07% of Medtronic worth $85,562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC increased its position in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares in the last quarter. Columbia River Financial Group LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $27,000. Hughes Financial Services LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $32,000. Finally, Optiver Holding B.V. acquired a new stake in Medtronic during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

MDT has been the subject of several analyst reports. Citigroup upped their target price on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Sanford C. Bernstein lifted their price target on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.14.

Insider Transactions at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $0.76 on Friday, reaching $92.72. 5,174,507 shares of the company's stock were exchanged, compared to its average volume of 7,664,636. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The business's 50-day moving average is $90.18 and its two-hundred day moving average is $88.07. The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $118.93 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.34 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the business earned $1.23 EPS. The firm's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is currently 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.