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

Epoch Investment Partners Inc. lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,176 shares of the medical technology company’s stock after selling 8,910 shares during the period. Epoch Investment Partners Inc.’s holdings in Medtronic were worth $19,199,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fort L.P. bought a new position in Medtronic during the 2nd quarter worth $121,000. Polaris Greystone Financial Group LLC increased its stake in Medtronic by 255.1% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 949 shares during the period. Hartford Financial Management Inc. bought a new position in Medtronic during the 2nd quarter worth $164,000. Meristem LLP bought a new position in Medtronic during the 2nd quarter worth $200,000. Finally, Aspiriant LLC bought a new position in Medtronic during the 3rd quarter worth $200,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.

A number of equities analysts have commented on the company. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Friday, September 21st. BMO Capital Markets raised their price objective on Medtronic from $94.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 22nd. Royal Bank of Canada raised their price objective on Medtronic to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 22nd. Argus raised their price objective on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research upgraded Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Tuesday, October 23rd. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Medtronic presently has an average rating of “Buy” and an average price target of $104.87.

In other news, EVP Geoffrey Martha sold 49,799 shares of Medtronic stock in a transaction on Monday, September 24th. The stock was sold at an average price of $97.93, for a total value of $4,876,816.07. Following the transaction, the executive vice president now owns 87,872 shares in the company, valued at approximately $8,605,304.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

Shares of MDT opened at $94.24 on Friday. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.11 and a current ratio of 2.56. The firm has a market capitalization of $129.59 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.07. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $7.35 billion. During the same quarter last year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that Medtronic PLC will post 5.13 earnings per share for the current year.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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