Shares of St. Jude Medical Inc. (NYSE:STJ) saw unusually-strong trading volume on Friday . Approximately 2,880,736 shares were traded during mid-day trading, an increase of 70% from the previous session’s volume of 1,692,161 shares.The stock last traded at $82.98 and had previously closed at $82.92.

A number of research analysts have recently issued reports on the stock. SunTrust Banks Inc. cut shares of St. Jude Medical from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $70.00 to $80.00 in a report on Tuesday, May 10th. Barclays PLC reiterated an “equal weight” rating and set a $83.00 price objective on shares of St. Jude Medical in a report on Monday, August 15th. Leerink Swann cut shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a report on Monday, July 11th. Zacks Investment Research cut shares of St. Jude Medical from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, JPMorgan Chase & Co. cut shares of St. Jude Medical from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $66.00 to $82.50 in a report on Thursday, April 28th. Twenty-two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $75.93.

The firm has a 50 day moving average price of $81.98 and a 200-day moving average price of $68.85. The stock has a market cap of $23.64 billion and a price-to-earnings ratio of 36.08.

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

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

Other hedge funds recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake 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. Dorsey & Whitney Trust CO LLC increased its stake 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 worth $3,343,000 after buying an additional 3,484 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of 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 last quarter. Principal Financial Group Inc. increased its stake in shares of St. Jude Medical by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 432,163 shares of the medical technology company’s stock worth $26,694,000 after buying an additional 17,640 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of St. Jude Medical by 32.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 823,890 shares of the medical technology company’s stock worth $50,894,000 after buying an additional 199,858 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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