Dimensional Fund Advisors LP Has $680.03 Million Holdings in Medtronic plc. (MDT)

Dimensional Fund Advisors LP grew its stake in Medtronic plc. (NYSE:MDT) by 1.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,744,140 shares of the medical technology company’s stock after acquiring an additional 132,553 shares during the period. Medtronic comprises 0.3% of Dimensional Fund Advisors LP’s investment portfolio, making the stock its 24th biggest holding. Dimensional Fund Advisors LP owned approximately 0.65% of Medtronic worth $680,028,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new stake in Medtronic during the 2nd quarter worth approximately $384,000. Wesbanco Bank Inc. increased its stake in Medtronic by 3.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after buying an additional 308 shares during the period. Dupont Capital Management Corp increased its stake in Medtronic by 28.8% during the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after buying an additional 16,562 shares during the period. Chilton Investment Co. LLC increased its stake in Medtronic by 6.1% during the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after buying an additional 1,538 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Medtronic by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after buying an additional 178 shares during the period. 81.72% of the stock is currently owned by institutional investors and hedge funds.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction dated Tuesday, January 9th. The shares were 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 approximately $12,910,895.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,684 shares of company stock valued at $12,831,076. 0.31% of the stock is owned by insiders.

Several equities research analysts recently weighed in on MDT shares. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada cut their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Jefferies Group reaffirmed a “buy” rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Finally, Northland Securities reissued a “hold” rating and issued a $80.00 price objective on shares of Medtronic in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. Medtronic has an average rating of “Buy” and an average price target of $89.65.

Shares of Medtronic plc. (NYSE:MDT) traded down $0.39 during trading on Thursday, hitting $85.49. 3,575,300 shares of the stock traded hands, compared to its average volume of 5,832,472. The firm has a market cap of $115,710.00, a PE ratio of 23.49, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic plc. has a fifty-two week low of $73.38 and a fifty-two week high of $89.72.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. analysts expect that Medtronic plc. will post 4.77 earnings per share for the current year.

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

ILLEGAL ACTIVITY NOTICE: This report was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://stocknewstimes.com/2018/01/11/dimensional-fund-advisors-lp-purchases-132553-shares-of-medtronic-plc-mdt.html.

About Medtronic

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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply