Clear Creek Financial Management LLC Purchases 940 Shares of Medtronic PLC (NYSE:MDT)

Clear Creek Financial Management LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 26.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,535 shares of the medical technology company’s stock after buying an additional 940 shares during the period. Clear Creek Financial Management LLC’s holdings in Medtronic were worth $408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. TCTC Holdings LLC increased its holdings in shares of Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company’s stock valued at $3,173,000 after acquiring an additional 1,301 shares during the period. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Oxford Asset Management LLP raised its holdings in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock worth $594,000 after purchasing an additional 3,068 shares in the last quarter. New Vernon Investment Management LLC raised its holdings in Medtronic by 304.9% in the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company’s stock worth $2,425,000 after purchasing an additional 22,300 shares in the last quarter. Finally, Argent Trust Co lifted its position in shares of Medtronic by 13.6% during the fourth quarter. Argent Trust Co now owns 56,020 shares of the medical technology company’s stock valued at $4,475,000 after buying an additional 6,721 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Down 0.4%

NYSE:MDT opened at $88.42 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The company’s fifty day moving average price is $85.12 and its 200-day moving average price is $86.44. Medtronic PLC has a 1-year low of $75.96 and a 1-year high of $96.25. The firm has a market capitalization of $113.40 billion, a P/E ratio of 24.43, a PEG ratio of 2.40 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s dividend payout ratio is currently 78.45%.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, June 6th. Royal Bank Of Canada decreased their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday. Robert W. Baird reduced their target price on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Finally, Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.87.

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.