Banque Cantonale Vaudoise Cuts Stock Position in Medtronic plc (NYSE:MDT)

Banque Cantonale Vaudoise cut its stake in shares of Medtronic plc (NYSE:MDT) by 34.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,699 shares of the medical technology company’s stock after selling 21,537 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Medtronic were worth $3,664,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Olstein Capital Management L.P. boosted its holdings in shares of Medtronic by 19.2% in the third 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 purchased a new stake in Medtronic in the 2nd quarter valued at approximately $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new position in Medtronic during the 3rd quarter worth approximately $9,486,000. National Bank of Canada FI raised its stake 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 holdings in shares of Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after buying an additional 42,112 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Evercore ISI boosted their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.80.

Medtronic Stock Down 2.9 %

MDT opened at $85.01 on Wednesday. The firm has a market cap of $109.02 billion, a P/E ratio of 28.72, a PEG ratio of 2.50 and a beta of 0.84. The business’s fifty day simple moving average is $89.30 and its 200 day simple moving average is $84.84. Medtronic plc has a 52 week low of $74.66 and a 52 week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. As a group, equities research analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

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.