St. Jude Medical Inc. (NYSE:STJ) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $81.41 and last traded at $81.30, with a volume of 1,134,593 shares changing hands. The stock had previously closed at $80.21.

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of St. Jude Medical in a research note on Sunday. Canaccord Genuity reiterated a “hold” rating on shares of St. Jude Medical in a research note on Saturday, April 30th. Leerink Swann reiterated a “buy” rating on shares of St. Jude Medical in a research note on Saturday, April 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price (up from $70.00) on shares of St. Jude Medical in a research note on Wednesday, April 20th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of St. Jude Medical in a report on Saturday, April 30th. Twenty-one equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. St. Jude Medical currently has an average rating of “Hold” and an average target price of $74.46.

The stock has a market capitalization of $23.11 billion and a price-to-earnings ratio of 32.67. The firm has a 50-day moving average price of $78.33 and a 200 day moving average price of $64.58.

St. Jude Medical (NYSE:STJ) last posted its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. The business earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. On average, analysts expect that St. Jude Medical Inc. will post $4.06 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 30th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, June 28th.

Other institutional investors have recently modified their holdings of the company. Deimos Asset Management LLC purchased a new position in shares of St. Jude Medical during the fourth quarter valued at $1,050,000. Commerzbank Aktiengesellschaft FI increased 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 valued at $1,057,000 after buying an additional 9,077 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased 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 valued at $1,141,000 after buying an additional 366 shares in the last quarter. Advisors Asset Management Inc. increased 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 valued at $1,236,000 after buying an additional 4,916 shares in the last quarter. Finally, Auxier Asset Management purchased a new position in shares of St. Jude Medical during the fourth quarter valued at $1,360,000.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.