Clear Creek Financial Management LLC Buys 484 Shares of Medtronic plc (NYSE:MDT)

Clear Creek Financial Management LLC increased its stake in shares of Medtronic plc (NYSE:MDT) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,595 shares of the medical technology company’s stock after acquiring an additional 484 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Medtronic were worth $287,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP purchased a new position in Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic in the 4th quarter worth approximately $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 1.4 %

Shares of MDT opened at $90.74 on Monday. The firm has a market capitalization of $116.35 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The company has a 50-day moving average of $84.38 and a 200 day moving average of $86.06.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.00.

Insider Activity

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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.