UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, D.C 20549


                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934


                               (Amendment No. _2_)*


                                 Medamicus, Inc.
- ------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
- ------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   584027-10-6
                       ----------------------------------
                                 (CUSIP Number)



Check the following box if a fee is being paid with this statement /__/. (A fee
is not required only if the filing person:  (1) has a previous statement on file
reporting  beneficial  ownership  of more  than  five  percent  of the  class of
securities  described  in Item l;  and (2) has  filed  no  amendment  subsequent
thereto reporting  beneficial  ownership of five percent or less of such class.)
(See Rule 13d-7).

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).




SEC 1745 (2/92)               Page 1 of 5 pages





CUSIP No. 584027-10-6                 13G                     Page 2 of 5 Pages


 1   NAME OF REPORTING PERSON
     S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Perkins Capital Management, Inc.
         IRS ID No.: 41-1501962


 2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                       (a) /__/
                                                                       (b) /__/
 3   SEC USE ONLY


 4   CITIZENSHIP OR PLACE OF ORGANIZATION

     730 East Lake Street, Wayzata, MN  55391-1769

                  5    SOLE VOTING POWER
 NUMBER OF             156,000

  SHARES          6    SHARED VOTING POWER
                       0
BENEFICIALLY

  OWNED BY        7    SOLE DISPOSITIVE POWER
                       592,200
   EACH

 REPORTING

  PERSON          8    SHARED DISPOSITIVE POWER
                       0
   WITH


 9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     592,200

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*  /_/



11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     14.6%

12   TYPE OF REPORTING PERSON*

     IA  


SEC 1745 (2/92)                   Page 2 of 5 pages





CUSIP No. 584027-10-6               13G                       Page 3 of 5 Pages


ITEM 1.
     (a)     Name of Issuer
             Medamicus, Inc.

     (b)     Address of Issuer's Principal Executive Offices
             15301 Highway 55 W., Plymouth, MN  55447

ITEM 2.
     (a)     Name of Person Filing

             Perkins Capital Management, Inc.

     (b)     Address of Principal Business Office or, if none, Residence

             730 East Lake Street
             Wayzata, MN  55391-1769

     (c)     Citizenship

             Minnesota Corporation

     (d)     Title of Class of Securities

             Common Stock

     (e)     CUSIP Number

             584027-10-6

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK
WHETHER THE PERSON FILING IS A:

     (a) /__/     Broker or Dealer registered under Section 15 of the Act

     (b) /__/     Bank as defined in section 3(a)(6) of the Act

     (c) /__/     Insurance Company as defined in section 3(a)(19) of the act

     (d) /__/     Investment Company registered under section 8 of the
                  Investment Company Act

     (e) /X_/     Investment Adviser registered under section 203 of the
                  Investment Advisers Act of 1940

     (f) /__/     Employee  Benefit Plan,  Pension Fund which is subject to
                  the provisions of the Employee  Retirement Income Security Act
                  of 1974 or Endowment Fund; see 240.13d-l(b)(l)(ii)(F)

     (g) /__/     Parent Holding Company, in accordance with
                  240.13d-l(b)(ii)(G) (Note: See Item 7)

     (h) /__/     Group, in accordance with 240.13d-l(b)(l)(ii)(H)



SEC 1745 (2/92)                Page 3 of 5 pages





CUSIP No. 584027-10-6                   13G                   Page 4 of 5 Pages




ITEM 4. OWNERSHIP

     If the percent of the class owned, as of December 31 of the year covered by
the statement, or as of the last day of any month described in Rule 13d-l(b)(2),
if  applicable,  exceeds five percent,  provide the following  information as of
that date and identify those shares which there is a right to acquire.

     (a)     Amount Beneficially Owned
             592,200

     (b)     Percent of Class
             14.6%

     (c)     Number of shares as to which such person has:
         (i)   sole power to vote or to direct the vote
                  156,000
         (ii)  shared power to vote or to direct the vote
                  0
         (iii) sole power to dispose or to direct the dispostion of
                  592,200
         (iv)  shared power to dispose or to direct the disposition of
                  0

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

     Not applicable.

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

     Not applicable.

ITEM 7. IDENTIFICATION  AND  CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
        THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

     Not applicable.

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

     Not applicable.

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

     Not applicable.




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CUSIP No. 584027-10-6                   13G                    Page 5 of 5 Pages



ITEM 10. CERTIFICATION

         By  signing  below I  certify  that,  to the best of my  knowledge  and
belief, the securities referred to above were acquired in the ordinary course of
business  and were not acquired for the purpose of and do not have the effect of
changing or  influencing  the control of the issuer of such  securities and were
not acquired in connection  with or as a participant in any  transaction  having
such purposes or effect.

     After  reasonable  inquiry and to the best of my  knowledge  and belief,  I
certify that the information  set forth in this statement is true,  complete and
correct.


                                             January 22, 1997
                                    ----------------------------------------
                                                  Date
     
                                           By /s/  Bradley A. Erickson
                                    ----------------------------------------
                                                   Signature


                                    Bradley A. Erickson,      Vice President
                                    ----------------------------------------
                                                   Name/Title




SEC 1745 (2/92)                    Page 5 of 5 pages