For the most part, Gurus have been net sellers in both office supply retailers. Prior to the proposed merger, the two companies have been struggling as Staples (SPLS) and Amazon (AMZN) continued to take market share. The only Guru purchasing shares of Office Depot (ODP) is Gotham Capital’s Joel Greenblatt but he might be doing so as part of his value weighted index strategy as oppose to fundamental analysis. With Office Max (OMX), Schneider Capital Management’s Arnold Schneider recently added to his position and the office retailer now represents 1.9% of his portfolio.
Medical products maker Medtronic (MDT) reported EPS of $0.93 versus analyst estimates of $0.91. Revenue increased 2.8% to $4.03 billion and was up 4% excluding currency fluctuations.The company also confirmed its 2013 guidance as the company deals with a “changing” healthcare environment.
Several Gurus purchased Medtronic in the last quarter. The shares have had a nice run up in the first month and a half of the year so I wouldn’t rush to buy it. Gurus who have recently purchased Medtronic include:
- Donald Yacktman for the Yacktman Focused Fund
- Joel Greenblatt
- Hotchkis & Wiley
- Ray Dalio
- John Hussman
- Bill Nygren
It has been a mixed bag with Gurus and ConAgra. The stock is up roughly 15% year to date and some Gurus might be taking advantage of the recent runup to take profits. Gurus who have added to their ConAgra positions include SAC Capital’s Steven Cohen, GAMCO Investors Mario Gabelli and John Hussman. Neither’s position is significant.
Finally, PC maker Dell (DELL) is set to report after the bell. But its quarterly results may be overshadowed by any remarks the company’s founder and current CEO Michael Dell makes about the plans (and price) since he and a group of investors announced a deal to buy the struggling PC maker for $24.4 billion. Opposition is lining up against the proposed purchase price with Southeastern Asset Management and T. Row Price leading the way.