SEC 13F Narrative: King Luther Capital Management Corp Lifted Its Medtronic INC (MDT) Position by $3.77 Million as Share Price Declined

SEC 13F Narrative: King Luther Capital Management Corp Lifted Its Medtronic INC (MDT) Position by $3.77 Million as Share Price Declined

King Luther Capital Management Corp increased its stake in Medtronic Inc (MDT) by 2.48% based on its latest 2016Q3 regulatory filing with the SEC. King Luther Capital Management Corp bought 43,847 shares as the company’s stock declined 0.72% while stock markets rallied. The institutional investor held 1.81 million shares of the electromedical & electrotherapeutic apparatus company at the end of 2016Q3, valued at $156.70M, up from 1.77M at the end of the previous reported quarter. King Luther Capital Management Corp who had been investing in Medtronic Inc for a number of months, seems to be bullish on the $102.84B market cap company. The stock is up 0.53% or $0.4 after the positive news, hitting $75.3 per share. About 557 shares traded hands. Medtronic PLC (NYSE:MDT) has declined 10.54% since June 7, 2016 and is downtrending. It has underperformed by 17.96% the S&P500.

King Luther Capital Management Corp, which manages about $16.93 billion and $10.24 billion US Long portfolio, decreased its stake in Post Hldgs Inc (NYSE:POST) by 165,738 shares to 154,103 shares, valued at $11.89M in 2016Q3, according to the filing. It also reduced its holding in Take (NASDAQ:TTWO) by 115,850 shares in the quarter, leaving it with 393,270 shares, and cut its stake in Interactive Intelligence Group (NASDAQ:ININ).

King Luther Capital Management Corp is a Texas-based institutional investor with more than $16.93 billion AUM in January, 2015. Taken from King Luther Capital Management latest Adv, the fund reported to have 76 full and part-time employees. Among which 44 performing investment advisory and research functions. The institutional investor had more than 2000 clients.

Insitutional Activity: The institutional sentiment decreased to 0.73 in 2016 Q3. Its down 0.07, from 0.8 in 2016Q2. The ratio is negative, as 65 funds sold all MDT shares owned while 510 reduced positions. 94 funds bought stakes while 324 increased positions. They now own 999.44 million shares or 3.14% less from 1.03 billion shares in 2016Q2. Moreover, Monetta Serv Inc has 0.44% invested in Medtronic PLC (NYSE:MDT) for 8,000 shares. Abner Herrman And Brock Ltd reported 3,216 shares or 0.06% of all its holdings. First Merchants Corporation has invested 0.75% of its portfolio in Medtronic PLC (NYSE:MDT). Girard Ltd reported 2,632 shares or 0.08% of all its holdings. Salient Tru Lta has 0.02% invested in the company for 2,562 shares. Cambridge has invested 2.28% of its portfolio in Medtronic PLC (NYSE:MDT). Jacobs & Ca owns 42,888 shares or 0.83% of their US portfolio. Pineno Levin & Ford Asset Mgmt holds 5,323 shares or 0.23% of its portfolio. Cahill Finance has 0.47% invested in the company for 8,353 shares. Nippon Life holds 0.11% of its portfolio in Medtronic PLC (NYSE:MDT) for 55,260 shares. Opus Capital Grp Lc, a Ohio-based fund reported 4,965 shares. Obermeyer Wood Inv Counsel Lllp accumulated 182,600 shares or 1.51% of the stock. Toth Financial Advisory owns 50,350 shares or 1.28% of their US portfolio. Mufg Americas Hldg holds 0.61% or 207,747 shares in its portfolio. Bank Of Hawaii accumulated 0.02% or 2,400 shares.

More news for Medtronic PLC (NYSE:MDT) were recently published by: Seekingalpha.com, which released: “Medtronic: No-Brainer” on December 26, 2016. Seekingalpha.com‘s article titled: “Medtronic Will Experience Stellar Growth Over The Next Five Years” and published on December 29, 2016 is yet another important article.

According to Zacks Investment Research, “Medtronic is the world’s leading medical technology company, pioneering device-based therapies that restore health, extend life and alleviate pain. Primary products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, among others. Medtronic operates its business in one reportable segment, that of manufacturing and selling device-based medical therapies. The company does business in more than 120 countries. The company’s product lines include cardiac rhythm management, neurological and spinal, vascular and cardiac surgery.”

Medtronic PLC (NYSE:MDT) Ratings Coverage

Out of 22 analysts covering Medtronic (NYSE:MDT), 15 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 68% are positive. Medtronic has been the topic of 29 analyst reports since August 10, 2015 according to StockzIntelligence Inc. As per Wednesday, November 23, the company rating was maintained by Stifel Nicolaus. The stock has “Buy” rating given by SunTrust on Monday, June 13. The rating was maintained by Credit Suisse on Monday, November 23 with “Outperform”. BMO Capital Markets maintained the stock with “Outperform” rating in Wednesday, November 23 report. On Tuesday, June 7 the stock rating was maintained by Needham with “Buy”. The stock of Medtronic PLC (NYSE:MDT) earned “Neutral” rating by Guggenheim on Thursday, June 9. The stock of Medtronic PLC (NYSE:MDT) has “Neutral” rating given on Tuesday, January 3 by Bank of America. The stock of Medtronic PLC (NYSE:MDT) earned “Buy” rating by SunTrust on Monday, April 25. As per Monday, August 10, the company rating was reinitiated by Credit Suisse. Morgan Stanley maintained the shares of MDT in a report on Wednesday, March 2 with “Overweight” rating.

MDT Company Profile

Medtronic Public Limited Company (Medtronic), incorporated on June 12, 2014, is a medical technology, services and solutions company. The Firm operates in four divisions: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group and Diabetes Group. The Cardiac and Vascular Group segment includes cardiac rhythm and heart failure, coronary and structural heart, and aortic and peripheral vascular. The Company’s Minimally Invasive Therapies Group segment includes surgical solutions, and patient monitoring and recovery. The Company’s Restorative Therapies Group segment includes spine, neuromodulation, surgical technologies and neurovascular. The Company’s Diabetes Group segment includes intensive insulin management, non-intensive diabetes therapies, and diabetes services and solutions. The Company’s subsidiaries include Medtronic, Inc. and HeartWare International, Inc.

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