First Pacific Financial Acquires 8,870 Shares of Medtronic PLC $MDT

First Pacific Financial grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 23.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,817 shares of the medical technology company’s stock after buying an additional 8,870 shares during the period. Medtronic accounts for 0.6% of First Pacific Financial’s portfolio, making the stock its 29th biggest position. First Pacific Financial’s holdings in Medtronic were worth $4,459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Vanguard Group Inc. lifted its position in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the period. Geode Capital Management LLC raised its stake in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after buying an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after buying an additional 595,549 shares during the period. Invesco Ltd. boosted its position in Medtronic by 3.9% during 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 acquiring an additional 666,557 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $1,432,698,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $96.13 on Friday. The business has a fifty day moving average price of $97.60 and a 200-day moving average price of $93.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The company has a market capitalization of $123.24 billion, a PE ratio of 25.91, a PEG ratio of 2.53 and a beta of 0.71. Medtronic PLC has a 1-year low of $79.38 and a 1-year high of $106.33.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 76.55%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDT. Citigroup raised their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Wells Fargo & Company raised their price objective on Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Daiwa Capital Markets boosted their target price on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Cowen reiterated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Finally, The Goldman Sachs Group set a $111.00 price target on shares of Medtronic and gave the company a “neutral” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $109.94.

Medtronic Company Profile

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).