Barrow Hanley Mewhinney & Strauss LLC Decreases Stake in Medtronic plc. (MDT)

Barrow Hanley Mewhinney & Strauss LLC lessened its stake in Medtronic plc. (NYSE:MDT) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 accounts for approximately 1.9% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 22nd largest position. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.22% of Medtronic worth $1,288,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in Medtronic during the second quarter worth about $384,000. Wesbanco Bank Inc. raised its holdings in Medtronic by 3.1% during the second quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after purchasing an additional 308 shares in the last quarter. Dupont Capital Management Corp raised its holdings in Medtronic by 28.8% during the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after purchasing an additional 16,562 shares in the last quarter. Chilton Investment Co. LLC raised its holdings in Medtronic by 6.1% during the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after purchasing an additional 1,538 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in Medtronic by 0.4% during the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 81.97% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $82.82, for a total value of $1,325,120.00. Following the transaction, the executive vice president now owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the transaction, the vice president now directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,684 shares of company stock worth $11,582,596. 0.31% of the stock is currently owned by insiders.

Several research firms recently issued reports on MDT. Morgan Stanley increased their price target on shares of Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday. Oppenheimer set a $94.00 price target on shares of Medtronic and gave the stock a “buy” rating in a report on Friday, January 19th. Evercore ISI assumed coverage on shares of Medtronic in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 target price for the company. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and increased their target price for the company from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Medtronic currently has an average rating of “Buy” and a consensus target price of $90.10.

Medtronic plc. (MDT) traded down $3.03 during mid-day trading on Monday, hitting $81.42. 7,039,316 shares of the stock traded hands, compared to its average volume of 4,800,000. The firm has a market capitalization of $114,300.00, a price-to-earnings ratio of 22.37, a PEG ratio of 2.33 and a beta of 0.93. Medtronic plc. has a twelve month low of $75.44 and a twelve month high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. sell-side analysts expect that Medtronic plc. will post 4.76 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.55%.

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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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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