Econ Financial Services Corp Purchases 19,204 Shares of Medtronic PLC $MDT

Econ Financial Services Corp boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 50.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,270 shares of the medical technology company’s stock after purchasing an additional 19,204 shares during the period. Medtronic comprises approximately 2.3% of Econ Financial Services Corp’s investment portfolio, making the stock its 11th biggest position. Econ Financial Services Corp’s holdings in Medtronic were worth $4,962,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Monetary Solutions Ltd acquired a new position in shares of Medtronic during the 4th quarter worth $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter worth $27,000. Anfield Capital Management LLC boosted its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Medtronic in the fourth quarter valued at about $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $101.00 target price on shares of Medtronic in a research note on Wednesday, June 17th. Robert W. Baird reduced their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Rothschild & Co Redburn decreased their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, Mizuho dropped their price objective on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

Shares of MDT opened at $80.94 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The stock has a market cap of $103.60 billion, a PE ratio of 21.70, a PEG ratio of 2.16 and a beta of 0.58. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The business has a 50-day simple moving average of $79.39 and a two-hundred day simple moving average of $89.74.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is 76.14%.

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).