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

STJ has been the subject of a number of research reports. SunTrust Banks Inc. cut shares of St. Jude Medical from a “buy” rating to a “neutral” rating and upped their price target for the stock from $70.00 to $80.00 in a research report on Tuesday, May 10th. Canaccord Genuity reaffirmed a “hold” rating on shares of St. Jude Medical in a research report on Wednesday, April 20th. Zacks Investment Research raised shares of St. Jude Medical from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Leerink Swann upped their price target on shares of St. Jude Medical from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, March 28th. Finally, Jefferies Group upped their price target on shares of St. Jude Medical from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, March 28th. Twenty-one research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $76.50.

The company’s 50 day moving average is $78.51 and its 200-day moving average is $64.82. The firm has a market capitalization of $23.19 billion and a price-to-earnings ratio of 32.77.

St. Jude Medical (NYSE:STJ) last released its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the business posted $1.07 earnings per share. St. Jude Medical’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that St. Jude Medical Inc. will post $4.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Tuesday, June 28th.

Several institutional investors have added to or reduced their stakes in the company. Advantus Capital Management Inc increased its position in 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 last quarter. Vanguard Group Inc. increased 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 valued at $996,883,000 after buying an additional 411,462 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of St. Jude Medical by 6.9% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 54,103 shares of the medical technology company’s stock valued at $3,343,000 after buying an additional 3,484 shares in the last quarter. GAM Holding AG increased its position in shares of St. Jude Medical by 7.4% in the fourth quarter. GAM Holding AG now owns 71,020 shares of the medical technology company’s stock valued at $4,387,000 after buying an additional 4,883 shares in the last quarter. Finally, ING Groep increased its position in shares of St. Jude Medical by 313.1% in the third quarter. ING Groep now owns 48,406 shares of the medical technology company’s stock valued at $3,052,000 after buying an additional 36,688 shares in 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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