Barrow Hanley Mewhinney & Strauss LLC Reduces Position in Medtronic plc (NYSE:MDT)

Barrow Hanley Mewhinney & Strauss LLC reduced its position in Medtronic plc (NYSE:MDT) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,530,507 shares of the medical technology company’s stock after selling 69,594 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.28% of Medtronic worth $282,017,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Medtronic during the 4th quarter valued at $26,000. Stephens Consulting LLC lifted its position in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Medtronic during the fourth quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic in the fourth quarter worth about $40,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 1.5 %

NYSE:MDT opened at $87.62 on Friday. The stock has a market capitalization of $112.38 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $90.98 and a 200 day moving average of $88.01.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $96.07.

Medtronic Profile

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.