Traders Sell St. Jude Medical Inc. (STJ) on Strength (STJ)
Investors sold shares of St. Jude Medical Inc. (NYSE:STJ) on strength during trading hours on Wednesday. $105.61 million flowed into the stock on the tick-up and $144.60 million flowed out of the stock on the tick-down, for a money net flow of $38.99 million out of the stock. Of all companies tracked, St. Jude Medical had the 0th highest net out-flow for the day. St. Jude Medical traded up $0.38 for the day and closed at $78.63
STJ has been the subject of several analyst reports. Zacks Investment Research upgraded shares of St. Jude Medical from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, June 21st. Barclays PLC restated an “equal weight” rating and issued a $83.00 target price on shares of St. Jude Medical in a research note on Monday, August 15th. Leerink Swann restated a “hold” rating and issued a $85.00 target price on shares of St. Jude Medical in a research note on Thursday, July 21st. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of St. Jude Medical in a report on Sunday, July 17th. Finally, Canaccord Genuity set a $85.00 price target on shares of St. Jude Medical and gave the company a “hold” rating in a report on Wednesday, July 20th. Twenty-two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $75.17.
The company’s 50 day moving average price is $81.93 and its 200-day moving average price is $70.62. The stock has a market capitalization of $22.20 billion and a P/E ratio of 33.88.
St. Jude Medical (NYSE:STJ) last issued its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.06. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 earnings per share. On average, equities research analysts predict that St. Jude Medical Inc. will post $4.06 EPS for the current fiscal 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 issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.59%.
A hedge fund recently raised its stake in St. Jude Medical stock. Dimensional Fund Advisors LP increased its position in shares of St. Jude Medical Inc. (NYSE:STJ) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 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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