Epoch Investment Partners Inc. Purchases 262,109 Shares of Medtronic plc (NYSE:MDT)

Epoch Investment Partners Inc. raised its position in shares of Medtronic plc (NYSE:MDTGet Rating) by 18.9% during the fourth quarter, HoldingsChannel reports. The fund owned 1,649,387 shares of the medical technology company’s stock after acquiring an additional 262,109 shares during the quarter. Medtronic accounts for approximately 0.9% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 25th largest holding. Epoch Investment Partners Inc.’s holdings in Medtronic were worth $170,629,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC increased its position in Medtronic by 1.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,453 shares of the medical technology company’s stock valued at $684,000 after acquiring an additional 90 shares during the last quarter. CX Institutional increased its position in Medtronic by 3.8% during the third quarter. CX Institutional now owns 2,521 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 93 shares during the last quarter. Patten Group Inc. increased its position in Medtronic by 0.4% during the third quarter. Patten Group Inc. now owns 23,400 shares of the medical technology company’s stock valued at $2,933,000 after acquiring an additional 93 shares during the last quarter. Biltmore Wealth Management LLC increased its position in Medtronic by 1.6% during the third quarter. Biltmore Wealth Management LLC now owns 6,101 shares of the medical technology company’s stock valued at $765,000 after acquiring an additional 98 shares during the last quarter. Finally, Wealth Architects LLC increased its position in Medtronic by 5.2% during the fourth quarter. Wealth Architects LLC now owns 1,991 shares of the medical technology company’s stock valued at $206,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 80.23% of the company’s stock.

In other news, SVP Carol A. Surface sold 6,000 shares of the company’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $105.30, for a total value of $631,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Karen L. Parkhill sold 682 shares of the stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $110.00, for a total value of $75,020.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Shares of MDT traded down $1.05 during trading hours on Thursday, hitting $102.52. 157,765 shares of the stock were exchanged, compared to its average volume of 5,247,417. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.10 and a current ratio of 2.61. Medtronic plc has a 12-month low of $98.38 and a 12-month high of $135.89. The company has a market cap of $137.53 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The stock’s 50-day moving average price is $107.58 and its two-hundred day moving average price is $107.95.

Medtronic (NYSE:MDTGet Rating) last released its quarterly earnings data on Tuesday, February 22nd. The medical technology company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.01. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.91 billion. Medtronic had a return on equity of 14.57% and a net margin of 15.46%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. On average, research analysts expect that Medtronic plc will post 5.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Stockholders of record on Friday, March 25th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, March 24th. Medtronic’s dividend payout ratio (DPR) is presently 69.42%.

MDT has been the subject of several research reports. SVB Leerink reissued a “market perform” rating on shares of Medtronic in a research report on Wednesday, April 13th. StockNews.com initiated coverage on shares of Medtronic in a research note on Thursday, March 31st. They set a “buy” rating for the company. Bank of America started coverage on shares of Medtronic in a research note on Tuesday, March 1st. They set a “buy” rating for the company. Citigroup reduced their price objective on shares of Medtronic from $127.00 to $120.00 in a research note on Tuesday. Finally, Truist Financial downgraded shares of Medtronic from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $124.00 to $121.00 in a research note on Wednesday, April 13th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $127.76.

About Medtronic (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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