Epoch Investment Partners Inc. Sells 44,430 Shares of Medtronic plc (NYSE:MDT)

Epoch Investment Partners Inc. decreased its position in shares of Medtronic plc (NYSE:MDT) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,117,554 shares of the medical technology company’s stock after selling 44,430 shares during the quarter. Epoch Investment Partners Inc. owned about 0.09% of Medtronic worth $87,963,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new stake in shares of Medtronic in the 1st quarter valued at $27,000. Lynx Investment Advisory purchased a new position in Medtronic during the 2nd quarter worth $28,000. Tributary Capital Management LLC purchased a new position in shares of Medtronic in the 1st quarter worth about $33,000. Riverview Trust Co purchased a new position in shares of Medtronic in the 1st quarter worth about $39,000. Finally, Fortis Group Advisors LLC boosted its holdings in shares of Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MDT. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Robert W. Baird upped their price target on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Barclays upped their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $92.92.

Medtronic Stock Down 0.1 %

Shares of NYSE MDT opened at $89.34 on Friday. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.49. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $114.56 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.57 and a beta of 0.84. The business has a 50-day moving average of $84.77 and a 200-day moving average of $82.97.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

Medtronic 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.