Barrow Hanley Mewhinney & Strauss LLC Lowers Position in Medtronic PLC (MDT)
Barrow Hanley Mewhinney & Strauss LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,205,859 shares of the medical technology company’s stock after selling 322,736 shares during the period. Medtronic PLC makes up about 2.4% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 7th largest position. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.48% of Medtronic PLC worth $1,627,784,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in MDT. Israel Discount Bank of New York bought a new stake in Medtronic PLC during the first quarter valued at $117,000. Birch Hill Investment Advisors LLC bought a new stake in Medtronic PLC during the first quarter valued at $120,000. Baystate Wealth Management LLC raised its stake in Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares during the last quarter. North Star Investment Management Corp. raised its stake in Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares during the last quarter. Finally, Hudock Capital Group LLC raised its stake in Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares during the last quarter. Institutional investors own 80.49% of the company’s stock.
Shares of Medtronic PLC (MDT) traded up 0.77% during midday trading on Monday, reaching $79.67. The company had a trading volume of 1,455,571 shares. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The company’s 50 day moving average price is $84.48 and its 200-day moving average price is $83.39. The company has a market capitalization of $108.50 billion, a P/E ratio of 26.82 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.
MDT has been the topic of several recent research reports. CIBC restated a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $93.00 target price (up previously from $87.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. UBS AG reiterated a “buy” rating and issued a $95.00 target price (up previously from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. Finally, BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $88.78.
In other Medtronic PLC news, Director Richard H. Anderson bought 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, with a total value of $497,840.00. Following the completion of the transaction, the director now owns 71,910 shares in the company, valued at $6,392,799. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
About Medtronic PLC
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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