Medtronic plc. (MDT) Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC cut its position in shares of Medtronic plc. (NYSE:MDT) by 15.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,574,247 shares of the medical technology company’s stock after selling 3,111,277 shares during the period. Medtronic comprises 1.9% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 22nd biggest position. Barrow Hanley Mewhinney & Strauss LLC owned 1.22% of Medtronic worth $1,288,978,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Hudock Capital Group LLC increased its holdings in shares of Medtronic by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after acquiring an additional 11 shares during the period. IFC Holdings Incorporated FL increased its holdings in shares of Medtronic by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after acquiring an additional 17 shares during the period. Arcus Capital Partners LLC increased its holdings in shares of Medtronic by 0.8% in the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after acquiring an additional 25 shares during the period. Hanson McClain Inc. increased its holdings in shares of Medtronic by 0.5% in the 2nd quarter. Hanson McClain Inc. now owns 7,281 shares of the medical technology company’s stock valued at $646,000 after acquiring an additional 35 shares during the period. Finally, Fiera Capital Corp increased its holdings in shares of Medtronic by 0.5% in the 2nd quarter. Fiera Capital Corp now owns 6,832 shares of the medical technology company’s stock valued at $606,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.

Shares of Medtronic plc. (NYSE:MDT) opened at $85.45 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The firm has a market capitalization of $116,040.00, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.36 and a beta of 0.99. Medtronic plc. has a one year low of $73.59 and a one year high of $89.72.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 EPS. equities research analysts forecast that Medtronic plc. will post 4.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.15%. Medtronic’s payout ratio is presently 50.55%.

Several brokerages recently weighed in on MDT. Stifel Nicolaus boosted their target price on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Northland Securities restated a “hold” rating and set a $80.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, November 23rd. Finally, Jefferies Group restated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $89.65.

In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,684 shares of company stock worth $12,831,076. Company insiders own 0.31% of the company’s stock.

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About Medtronic

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 (NYSE:MDT)

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