Investors purchased shares of St. Jude Medical Inc. (NYSE:STJ) on weakness during trading on Wednesday. $83.22 million flowed into the stock on the tick-up and $58.96 million flowed out of the stock on the tick-down, for a money net flow of $24.26 million into the stock. Of all stocks tracked, St. Jude Medical had the 21st highest net in-flow for the day. St. Jude Medical traded down ($0.43) for the day and closed at $80.45

Several brokerages have weighed in on STJ. Zacks Investment Research upgraded shares of St. Jude Medical from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Friday, April 22nd. Piper Jaffray Cos. downgraded shares of St. Jude Medical from an “overweight” rating to a “neutral” rating in a research note on Thursday, April 28th. BMO Capital Markets raised their target price on shares of St. Jude Medical from $66.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, March 28th. BTIG Research downgraded shares of St. Jude Medical from a “buy” rating to a “neutral” rating in a research note on Monday, April 18th. They noted that the move was a valuation call. Finally, Cowen and Company upgraded shares of St. Jude Medical from a “market perform” rating to an “outperform” rating and raised their target price for the company from $66.00 to $73.00 in a research note on Monday, March 28th. Twenty research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $73.85.

The stock has a market cap of $22.87 billion and a P/E ratio of 32.32. The firm’s 50-day moving average is $78.03 and its 200-day moving average is $64.04.

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

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

A number of hedge funds and institutional investors have made changes to their positions in STJ. Advantus Capital Management Inc boosted its position in shares of St. Jude Medical by 3.3% in the fourth quarter. Advantus Capital Management Inc now owns 27,189 shares of the medical technology company’s stock worth $1,679,000 after buying an additional 877 shares during the period. LSV Asset Management acquired a new position in shares of St. Jude Medical during the fourth quarter worth $10,455,000. Vanguard Group Inc. boosted its position in shares of St. Jude Medical by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 16,138,642 shares of the medical technology company’s stock worth $996,883,000 after buying an additional 411,462 shares during the period. Tekla Capital Management LLC boosted its position in shares of St. Jude Medical by 58.4% in the fourth quarter. Tekla Capital Management LLC now owns 255,810 shares of the medical technology company’s stock worth $15,801,000 after buying an additional 94,300 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of St. Jude Medical by 6.5% in the fourth quarter. State of Wisconsin Investment Board now owns 398,262 shares of the medical technology company’s stock worth $24,601,000 after buying an additional 24,330 shares during the period.

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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