Dimensional Fund Advisors LP Acquires 267,011 Shares of Medtronic PLC (MDT)
Dimensional Fund Advisors LP raised its stake in Medtronic PLC (NYSE:MDT) by 3.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,233,583 shares of the medical technology company’s stock after buying an additional 267,011 shares during the period. Medtronic PLC makes up about 0.3% of Dimensional Fund Advisors LP’s investment portfolio, making the stock its 23rd largest position. Dimensional Fund Advisors LP owned about 0.60% of Medtronic PLC worth $663,313,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MDT. Israel Discount Bank of New York acquired a new position in shares of Medtronic PLC during the first quarter valued at about $117,000. Birch Hill Investment Advisors LLC acquired a new position in shares of Medtronic PLC during the first quarter valued at about $120,000. Baystate Wealth Management LLC boosted its position in shares of 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. boosted its position in shares of 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 boosted its position in shares of 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.
Medtronic PLC (MDT) traded down 0.71% during trading on Friday, reaching $80.05. 3,133,488 shares of the company’s stock were exchanged. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The stock has a 50-day moving average of $83.42 and a 200-day moving average of $83.52. The stock has a market capitalization of $109.02 billion, a PE ratio of 26.94 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Medtronic PLC will post $4.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s payout ratio is 61.95%.
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Several research analysts have issued reports on the stock. UBS AG reiterated a “buy” rating and set a $95.00 target price (up from $94.00) on shares of Medtronic PLC in a report on Tuesday, May 30th. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $92.00 target price on shares of Medtronic PLC in a report on Tuesday, August 22nd. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Medtronic PLC in a report on Monday, August 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued 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 news, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were 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. Corporate insiders own 0.25% of the company’s stock.
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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