Epoch Investment Partners Inc. Reduces Stake in Medtronic PLC (MDT)

Epoch Investment Partners Inc. cut its position in Medtronic PLC (NYSE:MDT) by 19.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,842 shares of the medical technology company’s stock after selling 59,861 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Medtronic PLC were worth $21,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC purchased a new position in Medtronic PLC in the second quarter valued at $103,000. Motco boosted its holdings in Medtronic PLC by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Israel Discount Bank of New York purchased a new position in Medtronic PLC in the first quarter valued at $117,000. Finally, Birch Hill Investment Advisors LLC purchased a new position in Medtronic PLC in the first quarter valued at $120,000. 81.37% of the stock is owned by institutional investors and hedge funds.

In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Medtronic PLC (MDT) opened at $79.20 on Tuesday. The stock has a market capitalization of $107,459.70, a PE ratio of 16.92, a P/E/G ratio of 2.19 and a beta of 1.00. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40.

Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. equities analysts expect that Medtronic PLC will post 4.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

A number of research analysts recently issued reports on the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Cowen and Company set a $95.00 price target on Medtronic PLC and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.88.

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Medtronic PLC Company Profile

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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