Swiss National Bank Sells 125,300 Shares of Medtronic plc (NYSE:MDT)

Swiss National Bank decreased its holdings in Medtronic plc (NYSE:MDT) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,806,066 shares of the medical technology company’s stock after selling 125,300 shares during the quarter. Swiss National Bank’s holdings in Medtronic were worth $342,660,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Olstein Capital Management L.P. lifted its position in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after acquiring an additional 14,000 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Medtronic in the 2nd quarter valued at about $25,643,000. Ferguson Wellman Capital Management Inc. purchased a new stake in Medtronic in the 3rd quarter valued at about $9,486,000. National Bank of Canada FI lifted its position in shares of Medtronic by 13.6% during the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after buying an additional 31,195 shares in the last quarter. Finally, Harvest Portfolios Group Inc. lifted its position in shares of Medtronic by 6.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after buying an additional 42,112 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.8 %

Shares of MDT stock opened at $87.53 on Friday. The company’s fifty day simple moving average is $89.48 and its two-hundred day simple moving average is $84.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1 year low of $74.20 and a 1 year high of $92.68. The stock has a market capitalization of $112.25 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.50 and a beta of 0.84.

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

Analyst Ratings Changes

Several equities analysts have commented on MDT shares. Wells Fargo & Company lifted their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $96.00 in a research report on Friday. Piper Sandler lifted their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.80.

Medtronic Company 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.