Medtronic plc (NYSE:MDT) Holdings Decreased by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC reduced its position in shares of Medtronic plc (NYSE:MDT) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,990,659 shares of the medical technology company’s stock after selling 236,885 shares during the period. Medtronic comprises approximately 1.6% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 20th largest holding. Barrow Hanley Mewhinney & Strauss LLC owned about 0.47% of Medtronic worth $471,525,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. acquired a new stake in shares of Medtronic during the first quarter worth $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the 2nd quarter valued at about $28,000. Tributary Capital Management LLC acquired a new stake in Medtronic during the first quarter worth about $33,000. Fortis Group Advisors LLC lifted its holdings in Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 230 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in Medtronic in the first quarter valued at approximately $39,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.1 %

Shares of NYSE:MDT opened at $89.34 on Friday. The company has a 50 day moving average of $84.77 and a 200-day moving average of $82.97. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm has a market cap of $114.56 billion, a P/E ratio of 32.49, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 earnings per share. As a group, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.13%. Medtronic’s dividend payout ratio is currently 101.82%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research reports. Truist Financial increased their price target on Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer upped their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.92.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.