3,111 Shares in Medtronic plc (NYSE:MDT) Purchased by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,111 shares of the medical technology company’s stock, valued at approximately $280,000.

Several other institutional investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its stake in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 111 shares in the last quarter. First PREMIER Bank raised its stake in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 116 shares in the last quarter. Precision Wealth Strategies LLC raised its stake in shares of Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after acquiring an additional 118 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Medtronic by 2.0% in the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after acquiring an additional 118 shares in the last quarter. Finally, Abbrea Capital LLC raised its stake in shares of Medtronic by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $89.31 on Tuesday. The stock’s 50-day moving average is $89.64 and its two-hundred day moving average is $84.27. The firm has a market cap of $114.54 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.55 and a beta of 0.84. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter last year, the company posted $1.20 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is currently 94.59%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several analyst reports. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Wells Fargo & Company raised their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird raised their price target on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Profile

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.