Epoch Investment Partners Inc. Reduces Stock Position in Medtronic plc (NYSE:MDT)

Epoch Investment Partners Inc. trimmed its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 996,372 shares of the medical technology company's stock after selling 124,248 shares during the quarter. Epoch Investment Partners Inc. owned about 0.08% of Medtronic worth $79,590,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MDT. Mainstream Capital Management LLC bought a new position in Medtronic in the 4th quarter valued at about $26,000. Rakuten Securities Inc. increased its stake in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 294 shares during the last quarter. Stephens Consulting LLC lifted its stake in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the 4th quarter valued at $36,000. Finally, Chelsea Counsel Co. bought a new position in shares of Medtronic in the 3rd quarter valued at $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Up 0.5 %

NYSE MDT traded up $0.42 during trading hours on Thursday, hitting $84.17. 2,995,450 shares of the company's stock were exchanged, compared to its average volume of 6,659,936. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $88.36 and a 200 day simple moving average of $87.31. The firm has a market cap of $107.95 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.33%. Medtronic's dividend payout ratio (DPR) is 85.11%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research analyst reports. Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic has an average rating of "Hold" and an average target price of $96.14.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.