Swiss National Bank Decreases Stock Position in Medtronic PLC $MDT

Swiss National Bank reduced its stake in Medtronic PLC by 4.9% in the third quarter, holding 3,693,366 shares worth $351.76 million. Despite this, other institutional investors have increased their holdings, with 82.06% of the stock owned by hedge funds and institutional investors. Medtronic reported strong earnings and revenue, and has a “Moderate Buy” consensus rating from analysts with an average target price of $110.74.