Econ Financial Services Corp Increases Stock Holdings in Medtronic PLC $MDT

Econ Financial Services Corp boosted its stake in Medtronic PLC (NYSE:MDT) by 34.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,206 shares of the medical technology company’s stock after buying an additional 8,432 shares during the quarter. Medtronic makes up 1.6% of Econ Financial Services Corp’s investment portfolio, making the stock its 20th largest holding. Econ Financial Services Corp’s holdings in Medtronic were worth $3,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Geode Capital Management LLC grew its position in Medtronic by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after purchasing an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Medtronic by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after buying an additional 595,549 shares during the last quarter. Invesco Ltd. increased its stake in Medtronic by 3.9% in the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after buying an additional 666,557 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Medtronic during the 2nd quarter worth approximately $1,432,698,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Down 0.5%

MDT stock opened at $96.13 on Friday. The stock has a fifty day moving average of $97.60 and a 200-day moving average of $93.96. Medtronic PLC has a fifty-two week low of $79.38 and a fifty-two week high of $106.33. The company has a market capitalization of $123.24 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, December 26th. Medtronic’s payout ratio is currently 76.55%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MDT. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Monday. Sanford C. Bernstein set a $111.00 price objective on Medtronic in a research note on Wednesday, November 19th. Daiwa Capital Markets raised their target price on Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Morgan Stanley boosted their price target on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Finally, Jefferies Financial Group restated a “hold” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.94.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).