Kornitzer Capital Management Inc. KS Has $23.96 Million Holdings in Medtronic plc (NYSE:MDT)

Kornitzer Capital Management Inc. KS boosted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,901 shares of the medical technology company's stock after purchasing an additional 38,371 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Medtronic were worth $23,964,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. J.W. Cole Advisors Inc. raised its stake in shares of Medtronic by 97.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 17,578 shares of the medical technology company's stock valued at $1,448,000 after buying an additional 8,695 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Medtronic in the 4th quarter valued at $282,000. HTLF Bank acquired a new position in shares of Medtronic in the 4th quarter valued at $5,213,000. Colton Groome Financial Advisors LLC raised its stake in shares of Medtronic by 28.0% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 16,202 shares of the medical technology company's stock valued at $1,335,000 after buying an additional 3,546 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of Medtronic by 6.4% in the 4th quarter. Xponance Inc. now owns 174,712 shares of the medical technology company's stock valued at $14,393,000 after buying an additional 10,461 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MDT. Oppenheimer increased their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial increased their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, February 21st. Finally, Mizuho increased their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.91.

Medtronic Price Performance

NYSE:MDT traded up $0.29 during mid-day trading on Friday, reaching $79.48. 6,756,950 shares of the company were exchanged, compared to its average volume of 5,961,242. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. The company has a fifty day moving average of $83.93 and a 200 day moving average of $81.08. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $105.54 billion, a PE ratio of 25.31, a PEG ratio of 2.72 and a beta of 0.76.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The company's revenue was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Thursday, March 21st. Medtronic's dividend payout ratio is currently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company's stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of the firm's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company's stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

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.