St. Jude Medical Inc. (STJ) Sees Unusually-High Trading Volume
St. Jude Medical Inc. (NYSE:STJ) shares saw unusually-high trading volume on Friday . Approximately 6,796,322 shares changed hands during trading, an increase of 89% from the previous session’s volume of 3,597,841 shares.The stock last traded at $75.51 and had previously closed at $77.82.
A number of analysts recently weighed in on the stock. Argus restated a “hold” rating on shares of St. Jude Medical in a research note on Monday, May 2nd. Morgan Stanley lowered shares of St. Jude Medical from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $67.00 to $81.00 in a research note on Monday, May 2nd. SunTrust Banks Inc. lowered shares of St. Jude Medical from a “buy” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $80.00 in a research note on Tuesday, May 10th. JPMorgan Chase & Co. lowered shares of St. Jude Medical from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $66.00 to $82.50 in a research note on Thursday, April 28th. Finally, Barclays PLC upped their target price on shares of St. Jude Medical from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. Twenty-two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.93.
The firm’s 50-day moving average price is $82.19 and its 200 day moving average price is $69.67. The stock has a market capitalization of $22.23 billion and a price-to-earnings ratio of 33.92.
St. Jude Medical (NYSE:STJ) last announced its earnings results on Wednesday, July 20th. The medical technology company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts forecast that St. Jude Medical Inc. will post $4.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, September 28th.
An institutional investor recently raised its position in St. Jude Medical stock. Dimensional Fund Advisors LP raised its stake in shares of St. Jude Medical Inc. (NYSE:STJ) by 32.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 823,890 shares of the medical technology company’s stock after buying an additional 199,858 shares during the period. Dimensional Fund Advisors LP owned about 0.29% of St. Jude Medical worth $50,894,000 as of its most recent SEC filing.
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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