Medtronic plc (NYSE:MDT) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,193,777 shares of the medical technology company's stock after buying an additional 145,531 shares during the quarter. Dimensional Fund Advisors LP owned about 0.56% of Medtronic worth $574,631,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MDT. Dnca Finance boosted its stake in shares of Medtronic by 44.1% during the 4th quarter. Dnca Finance now owns 141,750 shares of the medical technology company's stock worth $11,323,000 after purchasing an additional 43,391 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Medtronic by 1.3% during the fourth quarter. First Trust Advisors LP now owns 954,771 shares of the medical technology company's stock valued at $76,267,000 after buying an additional 12,706 shares during the period. GeoWealth Management LLC boosted its position in Medtronic by 34.2% during the fourth quarter. GeoWealth Management LLC now owns 31,744 shares of the medical technology company's stock worth $2,536,000 after acquiring an additional 8,094 shares during the last quarter. Commerce Bank grew its stake in Medtronic by 3.9% in the 4th quarter. Commerce Bank now owns 143,555 shares of the medical technology company's stock worth $11,467,000 after acquiring an additional 5,450 shares during the period. Finally, Allred Capital Management LLC acquired a new position in Medtronic in the 4th quarter valued at $216,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $96.14.

Medtronic Stock Up 0.5 %

Shares of MDT traded up $0.38 during midday trading on Wednesday, reaching $83.75. 6,466,841 shares of the company were exchanged, compared to its average volume of 6,668,473. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a market cap of $107.41 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 2.22 and a beta of 0.79. The stock has a 50-day moving average price of $88.54 and a 200-day moving average price of $87.34.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Research analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.34%. Medtronic's dividend payout ratio is presently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

About Medtronic

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.