Tag: analysts

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Analysts Have Made A Financial Statement On Medtronic plc’s (NYSE:MDT) Second-Quarter Report

Last week, you might have seen that Medtronic plc (NYSE:MDT) released its second-quarter result to the market. The early response was not positive, with shares down 2.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to US$114 in the past week. It was a credible result overall, with revenues of US$7.8b and statutory earnings per share of US$0.97 both in line with analyst estimates, showing that Medtronic is executing in line with expectations. This is an important time for investors, as they can track a company’s performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. Readers will be glad to know we’ve aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Medtronic after the latest results.

earnings-and-revenue-growthNYSE:MDT Earnings and Revenue Growth November 26th 2021

Taking into account the latest results, Medtronic’s 25 analysts currently expect revenues in 2022 to be US$32.4b, approximately in line with the last 12 months. Per-share earnings are expected to grow 12{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to US$3.90. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$33.0b and earnings per share (EPS) of US$3.96 in 2022. So it’s pretty clear that, although the analysts have updated their estimates, there’s been no major change in expectations for the business following the latest results.

There were no changes to revenue or earnings estimates or the price target of US$141, suggesting that the company has met expectations in its recent result. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Medtronic, with the most bullish analyst valuing it at US$155 and the most bearish at US$127 per share. The narrow spread of estimates could suggest that the business’ future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It’s clear from the latest estimates that Medtronic’s rate of growth is expected to accelerate meaningfully, with the forecast 3.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} annualised revenue growth to the end of 2022 noticeably faster than its historical growth of 0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to see revenue growth of 8.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} annually. So it’s clear that despite the acceleration in growth, Medtronic is expected to grow meaningfully slower than the industry average.

The Bottom Line

The most important thing to take away is that there’s been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply revenues will perform worse than the wider industry. The consensus price target held steady at US$141, with the latest estimates not enough to have an impact on their price targets.

With that in mind, we wouldn’t be too quick to come to a conclusion on Medtronic. Long-term earnings power is much more important than next year’s profits. We have forecasts for Medtronic going out to 2024, and you can see them free on our platform here.

It is also worth noting that we have found 1 warning sign for Medtronic that you need to take into consideration.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Alibaba Stock Price Target Cut Again as More Analysts Smile on Rival JD.com

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Top Street analysts are bullish on stocks like Netflix & GM

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021.

Rebecca Cook | Reuters

Earnings season is drawing to a close, and companies have offered investors and analysts insight into their plans for growth in the coming quarters.

For a number of firms, this has been an opportunity to showcase how they’re adapting to new realities, be it the growing popularity of electric vehicles or the unrelenting demand for semiconductor chips.

To that effect, some of Wall Street’s top analysts have highlighted these five companies that have attractive long-term prospects for investors, according to TipRanks, which tracks the best-performing stock pickers.

General Motors  

The green tidal wave has continued its rampage across the industry, with multiple names going public to huge valuations many have found difficult to stomach. While it may be more convenient for smaller more flexible pure-play electric vehicle (EV) companies to focus on their condensed product offerings, General Motors (GM) does not intend to be left behind. (See General Motors Stock Analysis on TipRanks) 

Daniel Ives of Wedbush Securities reiterated his bullish hypothesis on the stock, arguing that the company is just now garnering recognition by Wall Street for its grand plans. He wrote that the “growing EV appetite among investors for new innovative EV stories, the vertical integration capabilities of GM and conversion of its massive customer base to electric vehicles over the coming years represents a transformational opportunity.”   

Ives rated the stock a Buy, and assigned a bullish price target of $85.  

The analyst added that if near-term issues such as the global chip shortage and the recall fallout on the Chevy Bolt can be mitigated, the company will have a clear runway to doubling its revenue by 2030. Ives expects that if GM executes on its EV promises, the share price could move even higher than his target.  

Big plans aren’t the only thing in GM’s toolbelt, as it has developed “game changing” Ultium battery technology, which Ives believes will help capture market share. However, he does not foresee Tesla (TSLA) falling from its dominating perch over the nascent industry. 

Additionally, GM has been developing software-and-services subscription packages to accompany its strong pipeline of EVs. Ives is encouraged by the prospect of the vast array of opportunities for monetization in this field for GM, noting that up to $2,000 per car per year could be generated. 

Out of more than 7,000 analysts, financial aggregator TipRanks rates Ives as No. 22. His ratings have been successful 82{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the time, and have returned him an average of 64.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} per.  

Wix.com 

Web development company Wix (WIX) hit a rough patch over the first half of the year, as it was up against tough comparisons from 2020’s boom in online business and e-commerce which helped bring in high valuations for the stock. Those tough times seem to be in the rearview mirror for Wix, according to Mark Mahaney of Evercore ISI. “It turns out that the world didn’t decide to stop building websites,” he said.

(See Wix.com Risk Factors on TipRanks) 

Mahaney rated the stock a Buy, and assigned a price target of $255.  

The analyst noted the company’s recent strong earnings report, in which it printed a beat on revenue and improved metrics in key sectors. He said that newly acquired users, average revenues per user and conversion levels were each beyond expectations laid out by the company.  

Global shifts during the Covid-19 pandemic turned having an online footprint “a must-have rather than a nice-to-have for businesses globally,” Mahaney said. He was encouraged by Wix’s exposure to the worldwide ecommerce sector, adding that he believes the company’s “omnichannel strategy with the additional kicker of gross payment volume expansion (esp. as the world reopens) should allow Wix to fully participate in the double tailwind of business going online, and commerce going digital.”  

Anticipating additional future upside, Mahaney said that about half of the company’s customers operate in fields which may still be restricted due to Covid-19. Upon a relaxing of pandemic related constraints, Wix could see a positive jolt to its balance sheet. 

TipRanks has calculated Mahaney as No. 62 out of over 7,000 financial analysts. Of his ratings, 74{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} have been successful, and they have returned him 57{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on average.  

Netflix  

As the hotly contested streaming wars continue, Netflix (NFLX) has been investing in innovations beyond its strong entertainment pipeline. The production and streaming service company has officially released several mobile games as it expands into an entirely new category of content. Doug Anmuth of JPMorgan stated that “NFLX remains a top pick” and that he expects the fourth quarter to bring success for the streaming giant. (See Netflix Hedge Fund Activity on TipRanks) 

Anmuth was enthusiastic “on shares based on continued strengthening of the 4Q content slate, greater distance from pandemic pull-forward, improving seasonality, & potential for greater traction in APAC, where NFLX has low penetration.”  

The analyst rated the stock a Buy, and decided on a price target of $750.  

In addition to the significant upcoming TV shows and movies set for the last quarter of this fiscal year, Anmuth noted that long-term upside can also be found in Netflix’s plans for share repurchases. The company is also benefitting from the “global proliferation of Internet-connected devices,” as consumer attention turns away from traditional cable and satellite TV options.  

Anmuth is confident that Netflix can continue penetrating high potential markets, such as China. Overall, NFLX’s content has been popular worldwide and a “virtuous circle” of subscriber and revenue growth is expected to carry the company to higher valuations.  

Out of over 7,000 financial analysts, TipRanks has calculated Anmuth to be No. 112. His stock picks have been correct 69{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the time, and have returned an average of 40.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.  

Square  

Despite persisting inflationary fears, consumer spending has continued to climb. This is good news for Square (SQ), which generates revenues from transactions through its subscription-based payment hardware and software platforms. The company has made inroads toward several other strategic business endeavors, including expansion into full-fledged fintech services, cryptocurrency initiatives, and high-profile acquisitions. (See Square Website Traffic on TipRanks) 

Ivan Feinseth of Tigress Financial Partners detailed his bullish hypothesis on the company, writing that “SQ’s innovative capabilities will continue to drive the introduction of new products that take it beyond the payment and continue to drive growth, increasing Return on Capital, greater Economic Profit, and accelerating shareholder value creation.” 

Feinseth rated the stock a Buy, and raised his price target to $310 from $295.  

The analyst explained that Square has now acquired “buy now, pay later” firm Afterpay, as well as Credit Karma Tax in its effort to transition into a more well-rounded fintech company. The firm has been moving its banking services in-house, which is anticipated by Feinseth to increase its overall margins. Moreover, these acquisitions are expected to provide for increased integration of sellers and consumers across its ecosystem of platforms.  

The broad consumer shift toward contactless payment preferences has supported Square as of late, allowing the company to report strong third-quarter revenues. 

Feinseth stands at No. 52 out of more than 7,000 analysts in TipRanks’ database. He retains a success rate of 76{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on his stock picks, and has returned an average of 38.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on each one over the prior two year period.  

Nvidia  

The semiconductor shortage is throwing sawdust into the engines of several industries, notably the automotive and smartphone manufacturing sectors. Meanwhile, some of the firms which design the chips are seeing impressive earnings and revenue amid the heightened demand. Nvidia (NVDA) recently printed yet another quarter of exceeded estimates, and analysts do not expect it to slow down any time soon. (See Nvidia Earnings Date & Reports on TipRanks) 

One of those bullish professionals is Christopher Rolland of Susquehanna Financial Group, who wrote that NVDA saw a record quarter across at least two of its main end-markets: data center and gaming. He added that the growth in the former is expected to continue performing well into the fourth quarter. According to the analyst, “Data Center was driven by hyperscalers for cloud computing, natural language processing, and deep recommender models, while Enterprise continues to be driven by vertical industries.” 

Rolland rated the stock a Buy, and provided a price target of $360.  

The tech company is also experiencing high demand for its networking solutions, with “higher momentum for their ethernet [network interface controllers], Quantum 2 switches, and Bluefield 3 [data processing units].”  

While the firm’s gaming segment remained productive this past quarter, Rolland said that the industry’s growth itself is difficult to predict. However, the company’s graphics processing unit, or GPU, inventory could still benefit from an increase in its supply. This instance is anticipated by Rolland as a potential future tailwind come 2022. 

Rolland remained confident in NVDA, and views it as a “pure and levered way to invest in the future prospects of the GPU, a device we believe is undergoing a renaissance.” 

TipRanks rates over 7,000 analysts, and currently places Rolland at No. 6. His stock ratings have been successful 87{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the time, and have returned an average of 56.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} each.  

 

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How to Become a CFA

How to Become a CFA

The chartered financial analyst, or CFA, designation is often viewed as the gold standard in investment management. For financial industry, Home Garden USA.

The chartered financial analyst, or CFA, designation is often viewed as the gold standard in investment management.

For financial industry professionals whose aspirations lie in analysis, you can’t do much better than the chartered financial analyst marks, which demonstrate knowledge of investments, portfolio management and other aspects of wealth planning. “It is slowly becoming the ‘college degree’ of investment management,” says Bryan Lee, a CFA who is the chief investment officer at Blue Zone Wealth Advisors, “meaning, for some companies, it is a must-have to even attempt to work there.”

Here’s what to know about earning the CFA as a financial certification — and what it’s like to work as a CFA.

[SUBSCRIBE: Get the weekly U.S. News newsletter for financial advisors. ]

What Is a Chartered Financial Analyst?

A chartered financial analyst is a financial professional who’s earned professional marks denoting expertise in investment management. Given by the CFA Institute, the chartered financial analyst program teaches the fundamentals of investment management, from asset valuation and analysis to portfolio management and wealth planning.

Investment management is an evolving ecosystem affected by valuation, politics, economics, accounting, ethics and behavioral science, says Taylor Royal, a CFA and partner and financial representative with Royal Wealth Partners, a Northwestern Mutual private client group. “The CFA charter is the differentiator in finance and dives deep into each of these topics.”

[READ: MBA or CFA: Which Is Better for Financial Advisors?]

How to Become a CFA

To become a CFA, you’ll need to pass a three-part sequential CFA exam that includes multiple-choice and essay questions. It is considered one of the hardest professional exams in the industry. The average pass rate on each part ranges from 42{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to 54{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. From 1963 to 2021, only 45{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of applicants passed all three exam parts. Candidates report studying for more than 320 hours on average in preparation for each exam.

Depending on when you register, the CFA program can cost between $700 and $1,000 — or more if you need to reschedule your exam date.

You must also complete at least 4,000 hours of relevant work experience over a minimum of 36 months. To be relevant, that work must be “directly related to the investment decision-making process producing a work product that informs or adds value to that process,” according to the CFA website. You can complete this work experience before, during or after passing the exam. But applicants won’t be able to use the CFA designation until they’ve met all these requirements, which also include submitting two to three professional references who can comment on their work experience and professional character.

“The CFA program was a major commitment of time, money and brainpower,” Royal says. “I began studying for each level at least six months in advance of each test and spent countless nights and weekends preparing for each exam.”

Be prepared to turn down a lot of social events while you’re preparing for the CFA exam. “I always tell people there is only one way to approach the program, and that is to go all in,” Lee says. “I have seen past co-workers take multiple years to pass different levels, and it can really be draining.”

He chose to tackle the program as quickly as possible, so while he felt like he was making a lot of sacrifices at the time, he was able to complete the program efficiently by passing each exam on his first attempt. “Looking back, I think that was key to keep my motivation high and remain disciplined and focused,” he says.

He also recommends sticking to a study schedule and taking as many practice exams as possible. But don’t forget to get enough sleep and exercise, so you don’t get burned out. “Understand why you are going through the process and make sure you use that as motivation to get through the difficult and frustrating weekends that you are studying all day while your friends are out having fun,” he says.

To help him get through the exam, Jim Grefenstette, a CFA with DJM Financial, a Northwestern Mutual private client group, joined a study group. The group members met regularly to review topics and hold each other accountable. Grefenstette says having that study group was critical to his progress.

“For any aspiring CFAs, my advice is to come at the work with passion and know that the designation can open doors to a wide variety of successful and fun careers in finance,” he says.

[READ: What to Know About Working as a Freelance Financial Planner.]

What Do CFAs Do for Work?

CFAs hold a variety of careers across all sectors of the financial industry, from asset management and private wealth management to insurance and commercial or investment banking.

You’ll also find CFAs in emerging sectors like financial technology. CFAs typically work as research analysts or investment consultants or strategists. They may work in portfolio management or risk analysis and management. CFA charterholder portfolio managers reported a base salary of $126,000 in 2019 and a total compensation of $177,000, according to the CFA Institute.

As a CFA, Royal advises sophisticated professionals who have earned their wealth in technology or as business entrepreneurs and managers. He says the CFA credential has helped him demonstrate his ability to meet his clients’ unique financial needs while showing his commitment to higher ethical standards.

Grefenstette chose to get his CFA while working as an analyst for an equity mutual fund. “I wanted to both improve my analytical skills, so I could do my job better, and be able to communicate my qualifications to my fund shareholders, so that they could have more confidence in our fund’s investment process,” he says.

He says he never could have progressed in the field without the skills he developed and honed through the CFA program. “An analyst, to a large extent, must make decisions or judgments based on incomplete information most of the time, as the variables in finance are often as qualitative as they are quantitative,” he says. “I think that aspect makes my job fun every day.”

The CFA charter can also be beneficial to professionals who aspire to work in a more analytical role. It allows them to be heard in the room and demonstrate that they have the required background and drive to advance within the company, Lee says.

“Having a CFA opens the door to more opportunities and allows for growth in your career,” he says. “If your company doesn’t value the designation, it can help you to find somewhere else that will — and will compensate you for your hard work completing the program.”

More from U.S. News

6 Pros and Cons of Choosing a Fee-Only Financial Advisor

14 Things to Know Before Becoming a Financial Advisor

8 Ways Financial Advisors Connect With Millennial Investors

How to Become a CFA originally appeared on usnews.com

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Top financial analysts dispel GOP claim that Biden agenda will fuel inflation

Republicans have been baselessly proclaiming the Make Again Far better careers proposal will worsen inflation.

For months, Republican lawmakers have asserted — with no proof — that President Joe Biden’s financial investment strategies will make inflation worse. On Tuesday, two main economical investigation products and services predicted they will not.

In an job interview with Reuters, Moody’s Trader Service vice president William Foster predicted that Biden’s just-signed $550 billion Infrastructure Expense and Jobs Act and the proposed $1.75 trillion Construct Back again Much better local climate and caregiving infrastructure proposal “should really not have any true material influence on inflation.”

Finch Scores senior director Charles Seville explained to the wire support that the two measures “will neither strengthen nor quell inflation substantially in the small-run” but could in fact boost the labor supply and productivity in the more time time period.

The White Household and congressional Democrats have dismissed GOP assertions that their proposed investments will fuel greater selling prices and have famous that provisions in the charges to make improvements to infrastructure and boy or girl care will truly help curb inflation in excess of the next ten years.

They have cited a group of Nobel Prize-successful economists who say Make Again Greater is part of the remedy, not the issue. “Because this agenda invests in very long-expression financial ability and will boost the capability of much more Individuals to take part productively in the financial system, it will simplicity more time-term inflationary pressures,” Columbia College professor Joseph Stiglitz advised the Washington Write-up on Nov. 4.

On Tuesday, Moody’s Analytics main economist Mark Zandi echoed those people predictions, telling Reuters the two measures “do not incorporate to inflation pressures, as the procedures assistance to lift very long-term economic progress via stronger efficiency and labor pressure development, and thus just take the edge off of inflation.”

Continue to, regardless of growing evidence that they are wrong, Republican lawmakers have continued to parrot the prediction that Create Back Better will spur significant inflation.

“No person is purchasing Joe Biden’s claim that his massive authorities investing bill is likely to lessen inflation,” tweeted Rep. Mo Brooks of Alabama on Tuesday. “It’s Biden and Pelosi’s limitless investing that is producing inflation! Just reveals how Socialist Democrats lie to the American men and women.”

“Democrats have expended TRILLIONS in 2021 and they want to shell out TRILLIONS a lot more,” complained California Rep. Tom McClintock. “Inflation is only going to get Even worse and it can be difficult-doing the job Americans who will spend the price tag for their unsuccessful guidelines.”

“Will not be fooled – this socialist shelling out rip-off will exacerbate the inflation disaster,” warned Texas Rep. Beth Van Duyne.

Sen. Rob Portman (R-OH), who backed the bipartisan Infrastructure Financial investment and Positions Act, even claimed that the bill he voted for “provides to the offer side of the financial system, and will be counter-inflationary,” but that the Create Back again Greater proposal “will enhance inflation via enormous stimulus paying and damage the overall economy via massive tax raises.”

When Republicans have been blaming Biden’s shelling out programs for the growing price of products — even blaming the not-nevertheless-handed proposals for the difficulty — lots of authorities say current inflation is in fact being prompted by other aspects. These include things like the amplified demand from customers for products as the financial system reopened after COVID-19 pandemic shutdowns and troubles with global source chains.

Nevertheless, some Republicans are signaling they approach to carry on to demagogue their opponents above the situation.

“You can see what’s likely to transpire following. We are going to continue on to have inflation, and then interest fees will go up,” Florida Sen. Rick Scott, who heads the Countrywide Republican Senatorial Committee, instructed the Wall Road Journal on Sunday. “This is a gold mine for us.”

The Household is anticipated to vote on the Make Back Far better proposal right before Thanksgiving.

Posted with authorization of The American Independent Basis.

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Capital One Financial Analysts Decrease Earnings Estimates for Laredo Petroleum, Inc. (NYSE:LPI)

Laredo Petroleum, Inc. (NYSE:LPI) – Capital One Financial dropped their FY2021 earnings estimates for shares of Laredo Petroleum in a report released on Tuesday, November 16th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $8.79 per share for the year, down from their previous estimate of $8.96. Capital One Financial also issued estimates for Laredo Petroleum’s Q4 2021 earnings at $3.56 EPS.

Several other research firms have also recently commented on LPI. Wells Fargo & Company boosted their price target on shares of Laredo Petroleum from $68.00 to $69.00 and gave the company an “underweight” rating in a report on Wednesday, October 13th. Raymond James boosted their target price on shares of Laredo Petroleum from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 26th. Finally, Piper Sandler boosted their target price on shares of Laredo Petroleum from $49.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, October 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Laredo Petroleum currently has a consensus rating of “Hold” and an average target price of $72.60.

NYSE LPI opened at $69.60 on Wednesday. Laredo Petroleum has a twelve month low of $10.39 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 6.02, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -3.10 and a beta of 4.19. The firm’s 50 day moving average price is $75.65 and its two-hundred day moving average price is $63.99. Laredo Petroleum (NYSE:LPI) last issued its earnings results on Tuesday, November 2nd. The oil and gas producer reported $1.84 EPS for the quarter, missing the Zacks’ consensus estimate of $2.90 by ($1.06). Laredo Petroleum had a negative net margin of 21.33{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a negative return on equity of 2,190.66{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. During the same period last year, the company earned $4.02 earnings per share.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. L & S Advisors Inc bought a new stake in Laredo Petroleum during the second quarter worth about $2,537,000. Dimensional Fund Advisors LP grew its stake in shares of Laredo Petroleum by 15.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the first quarter. Dimensional Fund Advisors LP now owns 377,611 shares of the oil and gas producer’s stock valued at $11,351,000 after purchasing an additional 51,786 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Laredo Petroleum during the second quarter valued at approximately $5,716,000. Principal Financial Group Inc. grew its stake in shares of Laredo Petroleum by 8.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the second quarter. Principal Financial Group Inc. now owns 66,885 shares of the oil and gas producer’s stock valued at $6,206,000 after purchasing an additional 4,929 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Laredo Petroleum by 30.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the second quarter. First Trust Advisors LP now owns 47,089 shares of the oil and gas producer’s stock valued at $4,369,000 after buying an additional 11,128 shares during the period. 70.49{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO M. Jason Pigott sold 13,400 shares of the company’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $72.60, for a total transaction of $972,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.30{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is currently owned by corporate insiders.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc engages in the exploration, development and acquisition of oil and natural gas properties. It operates in the Permian Basin in West Texas. The company was founded by Randy A. Foutch in October 2006 and is headquartered in Tulsa, OK.

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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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