St. Jude Medical Inc. (NYSE:STJ) saw an uptick in trading volume on Wednesday . 2,952,411 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 2,720,614 shares.The stock last traded at $80.60 and had previously closed at $80.88.

Several research firms have issued reports on STJ. Leerink Swann cut shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a research report on Monday. Zacks Investment Research raised shares of St. Jude Medical from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, June 21st. Barclays PLC cut shares of St. Jude Medical from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $74.00 to $80.00 in a research report on Wednesday, May 11th. SunTrust Banks Inc. cut shares of St. Jude Medical from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $70.00 to $80.00 in a research report on Tuesday, May 10th. Finally, Credit Suisse Group AG cut shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $67.00 to $81.00 in a research report on Tuesday, May 3rd. Twenty analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $73.85.

The firm has a 50-day moving average price of $78.03 and a 200-day moving average price of $64.04. The company has a market capitalization of $22.87 billion and a P/E ratio of 32.32.

St. Jude Medical (NYSE:STJ) last announced its earnings results on Wednesday, April 20th. The medical technology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The business earned $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, equities analysts predict that St. Jude Medical Inc. will post $4.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.54%.

Several institutional investors have made changes to their positions in the stock. Deimos Asset Management LLC acquired a new position in shares of St. Jude Medical during the fourth quarter worth approximately $1,050,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of St. Jude Medical by 113.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 17,104 shares of the medical technology company’s stock worth $1,057,000 after buying an additional 9,077 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of St. Jude Medical by 2.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,468 shares of the medical technology company’s stock worth $1,141,000 after buying an additional 366 shares during the last quarter. Numeric Investors LLC boosted its position in shares of St. Jude Medical by 397.4% in the fourth quarter. Numeric Investors LLC now owns 18,900 shares of the medical technology company’s stock worth $1,167,000 after buying an additional 15,100 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of St. Jude Medical by 32.6% in the fourth quarter. Advisors Asset Management Inc. now owns 20,002 shares of the medical technology company’s stock worth $1,236,000 after buying an additional 4,916 shares during the last quarter.

St. Jude Medical, Inc is focused on the development, manufacture and distribution of cardiovascular medical devices for the global cardiac rhythm management, cardiovascular and atrial fibrillation therapy areas, and interventional pain therapy and neurostimulation devices for the management of chronic pain and movement disorders.

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