Investors bought shares of St. Jude Medical Inc. (NYSE:STJ) on weakness during trading on Wednesday. $67.78 million flowed into the stock on the tick-up and $35.47 million flowed out of the stock on the tick-down, for a money net flow of $32.31 million into the stock. Of all stocks tracked, St. Jude Medical had the 9th highest net in-flow for the day. St. Jude Medical traded down ($0.18) for the day and closed at $83.20

A number of brokerages recently commented on STJ. Barclays PLC reaffirmed an “equal weight” rating and set a $83.00 price objective on shares of St. Jude Medical in a research report on Monday. Zacks Investment Research downgraded shares of St. Jude Medical from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Canaccord Genuity set a $85.00 target price on shares of St. Jude Medical and gave the stock a “hold” rating in a research report on Wednesday, July 20th. Leerink Swann reissued a “hold” rating and issued a $85.00 target price on shares of St. Jude Medical in a research report on Thursday, July 21st. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of St. Jude Medical in a research report on Sunday, July 17th. Twenty-two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. St. Jude Medical presently has a consensus rating of “Hold” and an average price target of $75.93.

The firm has a 50 day moving average of $81.69 and a 200-day moving average of $68.53. The stock has a market cap of $23.71 billion and a price-to-earnings ratio of 36.17.

St. Jude Medical (NYSE:STJ) last released its earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The firm earned $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $1.07 earnings per share. St. Jude Medical’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that St. Jude Medical Inc. will post $4.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.49%.

A number of institutional investors recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in 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 period. Dorsey & Whitney Trust CO LLC boosted its position in 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 worth $3,343,000 after buying an additional 3,484 shares during the period. Bridgewater Associates LP boosted its position in St. Jude Medical by 39.8% in the fourth quarter. Bridgewater Associates LP now owns 77,167 shares of the medical technology company’s stock worth $4,767,000 after buying an additional 21,951 shares during the period. American International Group Inc. boosted its position in St. Jude Medical by 1.7% in the fourth quarter. American International Group Inc. now owns 118,448 shares of the medical technology company’s stock worth $7,316,000 after buying an additional 1,936 shares during the period. Finally, I.G. Investment Management LTD. boosted its position in St. Jude Medical by 29.7% in the fourth quarter. I.G. Investment Management LTD. now owns 228,600 shares of the medical technology company’s stock worth $14,121,000 after buying an additional 52,300 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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