Barrow Hanley Mewhinney & Strauss LLC Has $1.29 Billion 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 the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,574,247 shares of the medical technology company’s stock after selling 3,111,277 shares during the quarter. Medtronic accounts for about 1.9% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 22nd largest holding. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Medtronic were worth $1,288,978,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. BDO Wealth Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at about $103,000. Motco lifted its holdings in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after buying an additional 290 shares during the period. Blue Chip Partners Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at about $118,000. Finally, Kistler Tiffany Companies LLC lifted its holdings in shares of Medtronic by 7.8% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,642 shares of the medical technology company’s stock valued at $146,000 after buying an additional 119 shares during the period. 81.72% of the stock is owned by institutional investors and hedge funds.

In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Insiders have sold 152,684 shares of company stock valued at $12,831,076 in the last three months. Insiders own 0.31% of the company’s stock.

Several brokerages have recently issued reports on MDT. SunTrust Banks reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Monday, October 2nd. Evercore ISI began coverage on Medtronic in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective for the company. Jefferies Group reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Thursday, September 28th. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada reduced their price target on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $89.65.

Medtronic plc. (NYSE:MDT) opened at $85.45 on Friday. The firm has a market capitalization of $116,040.00, a PE ratio of 23.48, a P/E/G ratio of 2.36 and a beta of 0.99. Medtronic plc. has a fifty-two week low of $73.59 and a fifty-two week 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 released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. Medtronic’s quarterly revenue was down 4.0% compared to the same quarter last year. analysts forecast that Medtronic plc. will post 4.77 earnings per share for the current fiscal year.

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

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Medtronic Company Profile

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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