Dimensional Fund Advisors LP boosted its stake in Medtronic Inc. (NYSE:MDT) by 26.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,311,207 shares of the medical technology company’s stock after buying an additional 1,318,850 shares during the period. Medtronic makes up 0.3% of Dimensional Fund Advisors LP’s portfolio, making the stock its 24th largest position. Dimensional Fund Advisors LP owned about 0.45% of Medtronic worth $547,586,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MDT. Proficio Capital Partners LLC boosted its stake in shares of Medtronic by 44.5% in the second quarter. Proficio Capital Partners LLC now owns 1,497 shares of the medical technology company’s stock valued at $131,000 after buying an additional 461 shares during the period. Kelman Lazarov Inc. boosted its stake in shares of Medtronic by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock valued at $132,000 after buying an additional 225 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Medtronic by 70.0% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the medical technology company’s stock valued at $148,000 after buying an additional 700 shares during the period. Kistler Tiffany Companies LLC boosted its stake in shares of Medtronic by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock valued at $154,000 after buying an additional 36 shares during the period. Finally, Brick & Kyle Associates boosted its stake in shares of Medtronic by 7.8% in the second quarter. Brick & Kyle Associates now owns 1,833 shares of the medical technology company’s stock valued at $159,000 after buying an additional 133 shares during the period. 82.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Medtronic Inc. (NYSE:MDT) traded up 0.1859% on Monday, hitting $86.1699. The stock had a trading volume of 1,743,659 shares. The company has a market cap of $119.08 billion, a price-to-earnings ratio of 33.5291 and a beta of 0.88. Medtronic Inc. has a 12-month low of $63.98 and a 12-month high of $89.27. The stock has a 50 day moving average price of $87.02 and a 200-day moving average price of $82.38.

Medtronic (NYSE:MDT) last released its earnings results on Thursday, August 25th. The medical technology company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Medtronic had a return on equity of 12.06% and a net margin of 12.70%. The firm earned $7.20 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the firm posted $1.02 EPS. Medtronic’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts expect that Medtronic Inc. will post $4.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 27th. This represents a $1.72 annualized dividend and a yield of 2.00%. Medtronic’s payout ratio is 66.93%.

Several equities analysts have recently weighed in on MDT shares. Jefferies Group reissued a “buy” rating on shares of Medtronic in a research report on Wednesday, June 1st. BTIG Research downgraded Medtronic from a “buy” rating to a “neutral” rating and set a $82.00 target price on the stock. in a research report on Wednesday, June 1st. Bank of America Corp. reissued a “buy” rating on shares of Medtronic in a research report on Sunday, May 22nd. Credit Suisse Group AG reissued a “buy” rating and set a $85.00 target price on shares of Medtronic in a research report on Tuesday, May 31st. Finally, BMO Capital Markets reissued a “buy” rating and set a $87.00 target price on shares of Medtronic in a research report on Tuesday, May 31st. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and a consensus target price of $90.12.

In other Medtronic news, EVP Bryan C. Hanson sold 15,000 shares of Medtronic stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the completion of the sale, the executive vice president now directly owns 108,717 shares of the company’s stock, valued at approximately $9,458,379. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Geoffrey Martha sold 3,766 shares of Medtronic stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $88.26, for a total value of $332,387.16. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

About Medtronic

Medtronic plc (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.

5 Day Chart for NYSE:MDT

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