Senator Tina Smith Sold These Two Healthcare Stocks

Sen. Tina Smith, the junior United States Senator from Minnesota since 2018, disclosed on Wednesday that she sold shares of two healthcare companies earlier this month.

Lawmaker Smith reported two transactions involving the sale of Cardiovascular Systems (CSII:US) shares on April 05, when the stock closed at $19.89. Both transactions were valued at between $50,000 - $100,000, according to the original filing.

The sale was made despite CSII shares trading 46.6% higher year-to-date (YTD).

Similarly, Senator Tina Smith sold shares of Medtronic (MDT:US) on the same day, when the stock closed at $80.27. The transaction was valued between $100,000 - $250,000.

Sen. Smith mostly trades Healthcare stocks. In September of last year, she invested between $50,000 to $100,000 in Artivion (AORT:US), a Georgia-based developer of medical devices.

The sale of MDT shares is particularly interesting after they hit a year-to-date low in March before rallying to trade at the highest levels in nearly 2 months. Just a few weeks ago, UBS analysts downgraded the stock by two notches to Sell from Buy, citing earnings risk.

Analysts lack “conviction that MDT can return to sustainable mid-single-digit top-line growth and drive consistent operating margin upside.”

UBS’s new price target is $79 per share, signaling a downside potential of about 5% relative to Wednesday’s closing price. Overall, MDT shares are up more than 7% YTD.