Brookside Capital Management Has Cut Bank Amer (BAC) Position; Park National Has Cut Medtronic Plc (MDT) Holding By $795,432

November 15, 2017 - By Darrin Black

Park National Corp decreased Medtronic Plc (MDT) stake by 9.56% reported in 2017Q2 SEC filing. Park National Corp sold 9,039 shares as Medtronic Plc (MDT)’s stock rose 5.51%. The Park National Corp holds 85,462 shares with $7.59M value, down from 94,501 last quarter. Medtronic Plc now has $107.23B valuation. The stock declined 0.47% or $0.38 reaching $78.79 per share. About 33,805 shares traded. Medtronic plc. Ordinary Shares (NYSE:MDT) has risen 4.04% since November 15, 2016 and is uptrending. It has underperformed by 12.66% the S&P500.

Brookside Capital Management Llc decreased Bank Amer Corp (BAC) stake by 8.59% reported in 2017Q2 SEC filing. Brookside Capital Management Llc sold 200,500 shares as Bank Amer Corp (BAC)’s stock declined 6.00%. The Brookside Capital Management Llc holds 2.13 million shares with $51.75 million value, down from 2.33M last quarter. Bank Amer Corp now has $270.47 billion valuation. The stock declined 1.18% or $0.31 reaching $25.93 per share. About 907,690 shares traded. Bank of America Corp (NYSE:BAC) has risen 58.64% since November 15, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

Among 27 analysts covering Medtronic (NYSE:MDT), 17 have Buy rating, 0 Sell and 10 Hold. Therefore 63% are positive. Medtronic had 70 analyst reports since August 10, 2015 according to SRatingsIntel. BTIG Research downgraded the stock to “Neutral” rating in Wednesday, June 1 report. The stock of Medtronic plc. Ordinary Shares (NYSE:MDT) earned “Buy” rating by SunTrust on Monday, April 25. The stock of Medtronic plc. Ordinary Shares (NYSE:MDT) earned “Outperform” rating by BMO Capital Markets on Wednesday, November 23. SunTrust maintained the shares of MDT in report on Monday, June 13 with “Buy” rating. The company was maintained on Wednesday, November 23 by Needham. The firm has “Buy” rating by Evercore given on Thursday, October 8. The stock of Medtronic plc. Ordinary Shares (NYSE:MDT) has “Buy” rating given on Tuesday, September 22 by UBS. The stock has “Buy” rating by BMO Capital Markets on Friday, November 10. On Thursday, June 9 the stock rating was initiated by Guggenheim with “Neutral”. As per Friday, April 21, the company rating was maintained by Northland Capital.

Analysts await Medtronic plc. Ordinary Shares (NYSE:MDT) to report earnings on November, 21 before the open. They expect $0.96 EPS, down 14.29% or $0.16 from last year’s $1.12 per share. MDT’s profit will be $1.31B for 20.52 P/E if the $0.96 EPS becomes a reality. After $1.12 actual EPS reported by Medtronic plc. Ordinary Shares for the previous quarter, Wall Street now forecasts -14.29% negative EPS growth.

Investors sentiment decreased to 0.9 in 2017 Q2. Its down 0.06, from 0.96 in 2017Q1. It dropped, as 72 investors sold MDT shares while 449 reduced holdings. 99 funds opened positions while 370 raised stakes. 1.06 billion shares or 2.23% less from 1.08 billion shares in 2017Q1 were reported. 32,771 are held by Finance Advisory Ser. Moreover, Iat Reinsurance Com Limited has 0.15% invested in Medtronic plc. Ordinary Shares (NYSE:MDT) for 9,900 shares. Flossbach Von Storch Ag invested in 2.07M shares. Horrell Capital Mgmt has 0.04% invested in Medtronic plc. Ordinary Shares (NYSE:MDT). First Financial Bank invested in 12,368 shares. 88,967 were accumulated by Finance Counselors. 10,521 are owned by Cap Fund Mgmt. Tctc Limited Co invested in 27,344 shares or 0.17% of the stock. Rand Wealth Ltd owns 2,610 shares. Community Bankshares Na holds 9,835 shares. First Bancorp Of Omaha has invested 0.69% of its portfolio in Medtronic plc. Ordinary Shares (NYSE:MDT). The Pennsylvania-based First Bankshares & Tru Of Newtown has invested 0.39% in Medtronic plc. Ordinary Shares (NYSE:MDT). Bridges Counsel has invested 0.06% in Medtronic plc. Ordinary Shares (NYSE:MDT). Argent Tru holds 31,274 shares or 0.78% of its portfolio. Guggenheim Limited holds 792,254 shares or 0.19% of its portfolio.

Park National Corp increased Bank Of America Corp (NYSE:BAC) stake by 30,256 shares to 871,620 valued at $21.15M in 2017Q2. It also upped Schlumberger Limited (NYSE:SLB) stake by 7,099 shares and now owns 146,451 shares. General Motors Company (NYSE:GM) was raised too.

Investors sentiment decreased to 1.12 in Q2 2017. Its down 0.03, from 1.15 in 2017Q1. It worsened, as 79 investors sold BAC shares while 543 reduced holdings. 120 funds opened positions while 577 raised stakes. 6.34 billion shares or 0.73% less from 6.39 billion shares in 2017Q1 were reported. Sage Financial Incorporated invested in 1,016 shares or 0.01% of the stock. Hamel Assoc Inc reported 9,310 shares. 850,519 were reported by Private Asset Mgmt Inc. Smithfield Tru Company reported 0.07% in Bank of America Corp (NYSE:BAC). 248,718 are held by Hodges Mgmt. Sns Fin Group Inc Ltd Company holds 11,001 shares or 0.07% of its portfolio. Weik Services Inc invested in 21,200 shares. 452,806 were accumulated by Weiss Multi. The New York-based Clear Harbor Asset Mngmt Ltd Limited Liability Company has invested 0.06% in Bank of America Corp (NYSE:BAC). Lmm Ltd Limited Liability Company reported 2.57 million shares. Wg Shaheen & Assocs Dba Whitney & holds 0.23% of its portfolio in Bank of America Corp (NYSE:BAC) for 28,983 shares. White Pine Capital Ltd owns 52,175 shares for 0.5% of their portfolio. Jump Trading Ltd Liability owns 1,395 shares. Daiwa Sb Invs Ltd has 0.26% invested in Bank of America Corp (NYSE:BAC) for 39,900 shares. 14,738 were accumulated by Midwest Mgmt Llc.

Among 30 analysts covering Bank of America (NYSE:BAC), 20 have Buy rating, 0 Sell and 10 Hold. Therefore 67% are positive. Bank of America had 94 analyst reports since July 21, 2015 according to SRatingsIntel. Citigroup maintained Bank of America Corp (NYSE:BAC) rating on Tuesday, July 19. Citigroup has “Buy” rating and $17 target. Societe Generale downgraded Bank of America Corp (NYSE:BAC) on Tuesday, September 13 to “Hold” rating. Barclays Capital maintained Bank of America Corp (NYSE:BAC) rating on Tuesday, January 3. Barclays Capital has “Equal Weight” rating and $26 target. Jefferies maintained it with “Buy” rating and $2800 target in Friday, July 7 report. RBC Capital Markets maintained the stock with “Buy” rating in Wednesday, August 30 report. The rating was maintained by Nomura on Monday, October 16 with “Buy”. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Tuesday, November 29. The company was maintained on Friday, August 11 by Jefferies. As per Tuesday, April 4, the company rating was downgraded by Citigroup. BMO Capital Markets maintained Bank of America Corp (NYSE:BAC) rating on Wednesday, August 23. BMO Capital Markets has “Hold” rating and $27.0 target.

Analysts await Bank of America Corp (NYSE:BAC) to report earnings on January, 12. They expect $0.47 EPS, up 17.50% or $0.07 from last year’s $0.4 per share. BAC’s profit will be $4.90B for 13.79 P/E if the $0.47 EPS becomes a reality. After $0.48 actual EPS reported by Bank of America Corp for the previous quarter, Wall Street now forecasts -2.08% negative EPS growth.

Brookside Capital Management Llc increased Avexis Inc stake by 198,138 shares to 319,138 valued at $26.22 million in 2017Q2. It also upped Puma Biotechnology Inc (NYSE:PBYI) stake by 252,294 shares and now owns 338,994 shares. Pentair Plc (NYSE:PNR) was raised too.

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