Barrow Hanley Mewhinney & Strauss LLC Has $282.02 Million Position in Medtronic plc (NYSE:MDT)

Barrow Hanley Mewhinney & Strauss LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 about 0.28% of Medtronic worth $282,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $26,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the period. Optiver Holding B.V. bought a new stake in Medtronic in the 4th quarter valued at $31,000. Finally, Chapman Financial Group LLC acquired a new stake in Medtronic in the 4th quarter worth $33,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDT. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday. Robert W. Baird cut their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Mizuho decreased their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $96.07.

Medtronic Trading Up 0.7%

MDT traded up $0.60 during midday trading on Wednesday, reaching $81.78. 2,908,088 shares of the company were exchanged, compared to its average volume of 6,802,522. The stock has a market capitalization of $104.89 billion, a P/E ratio of 24.85, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The stock's 50-day simple moving average is $84.64 and its 200 day simple moving average is $86.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Medtronic's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. As a group, analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.47%. Medtronic's payout ratio is 78.45%.

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.