Medtronic, Inc. (MDT), Covidien plc (COV), Wells Fargo & Co (WFC): Top 10 Stocks This Monday


Siemens AG (ADR) (OTCMKTS:SIEGY), Medtronic, Inc. (NYSE:MDT), Covidien plc (NYSE:COV) and Wells Fargo & Co (NYSE:WFC) were named the top 3 stocks in the Monday edition of Bloomberg’s Top 10.

Regarding Wells Fargo & Co (NYSE:WFC), Jonathan Ferro said that a rally in the stock has put it on the cusp of becoming the most valuable bank of all time in the United States, in terms of market value. He noted that Wells Fargo & Co (NYSE:WFC) stock has climbed over 14% over the year, while other major U.S. banks are down this year. Closing at $51.90 on Friday, Wells Fargo reached a market value of $272.36 billion.

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In the top two are Medtronic, Inc. (NYSE:MDT) and Covidien plc (NYSE:COV), reported Alix Steel. Both companies have agreed to merge, with Medtronic, Inc. (NYSE:MDT) agreeing to buy Covidien plc (NYSE:COV) in a deal valued at $42.9 billion in cash and stock. The company will be rebased in Ireland because of tax purposes. The company has said otherwise. In an interview, Medtronic, Inc. (NYSE:MDT) CEO Omar Ishrak said:

“The real purpose of this, in the end, is strategic, both in the intermediate term and the long term. It is good for the U.S. in that we will make more investment in U.S. technologies, which previously we could not.”

Siemens AG (ADR) (OTCMKTS:SIEGY), Betty Liu reported that the company is preparing a bid together with Mitsubishi Heavy Industries and Hitachi for Alstom. According to Liu, the Siemens AG (ADR) (OTCMKTS:SIEGY) may pay $5.4 billion for Alstom’s gas turbines. The bid from Siemens AG (ADR) (OTCMKTS:SIEGY), will compete with the bid put forward by General Electric Company (NYSE:GE).

Shareholders in Siemens AG includes Ken Fisher’s Fisher Asset Management with about 3.6 million shares in the company as of the end of the first quarter. Another investor is David Dreman’s Dreman Value Management which reported 45,840 in the company.

Investors in Medtronic, Inc. (NYSE:MDT) includes Healthinvest Partners Ab managed by Anders Hallberg and Carl Bennet which had 188,200 in the company by the end of March. Another investor is Bill Miller’s Legg Mason Capital Management which reported about 1.9 million shares.

Meanwhile, Covidien plc (NYSE:COV) investors includes First Pacific Advisors Llc managed by Robert Rodriguez and Steven Romick which had about 5.18 million shares in the company by the end of March. Another investor is Harris Associates by Natixis Global Asset Management with about 3.69 million shares in the company.

Wells Fargo & Co (NYSE:WFC) counts Warren Buffett’s Berkshire Hathaway as a major investor with about 463.46 million shares in the company by the end of the first quarter of the year. Natixis Global Asset Management’s Harris Associates had 34.98 million shares in the company by the end of March.

Disclosure: None

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