Banque Cantonale Vaudoise Sells 21,537 Shares of Medtronic plc (NYSE:MDT)

Banque Cantonale Vaudoise trimmed its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 34.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,699 shares of the medical technology company's stock after selling 21,537 shares during the period. Banque Cantonale Vaudoise's holdings in Medtronic were worth $3,664,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. boosted its stake in shares of Medtronic by 19.2% during 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 buying an additional 14,000 shares during the period. Manning & Napier Advisors LLC purchased a new position in Medtronic in the second quarter valued at about $25,643,000. Ferguson Wellman Capital Management Inc. purchased a new position in Medtronic in the third quarter valued at about $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 purchasing an additional 31,195 shares in the last quarter. Finally, Harvest Portfolios Group Inc. lifted its holdings 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 valued at $62,042,000 after buying an additional 42,112 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MDT. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday. Daiwa America raised shares of Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. UBS Group raised shares of Medtronic from a "sell" rating to a "neutral" rating and increased their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday. Finally, Robert W. Baird lowered their price objective on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus target price of $95.19.

Medtronic Stock Performance

MDT stock traded down $0.89 during trading on Wednesday, reaching $84.11. 7,278,674 shares of the stock were exchanged, compared to its average volume of 6,274,537. The stock has a 50 day simple moving average of $89.17 and a 200-day simple moving average of $84.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $107.87 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the previous year, the business posted $1.25 earnings per share. Medtronic's quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

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.