Bourne Lent Asset Management Inc. continued to hold its stake in St. Jude Medical Inc. (NYSE:STJ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,450 shares of the medical technology company’s stock at the end of the second quarter. Bourne Lent Asset Management Inc.’s holdings in St. Jude Medical were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in STJ. Cleararc Capital Inc. raised its stake in St. Jude Medical by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,939 shares of the medical technology company’s stock valued at $382,000 after buying an additional 23 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in St. Jude Medical by 2.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,332 shares of the medical technology company’s stock valued at $182,000 after buying an additional 64 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in St. Jude Medical by 0.8% in the first quarter. Commonwealth Equity Services Inc now owns 11,850 shares of the medical technology company’s stock valued at $652,000 after buying an additional 96 shares in the last quarter. Roberts Glore & Co. Inc. IL raised its stake in St. Jude Medical by 1.1% in the first quarter. Roberts Glore & Co. Inc. IL now owns 9,405 shares of the medical technology company’s stock valued at $517,000 after buying an additional 100 shares in the last quarter. Finally, NEXT Financial Group Inc raised its stake in St. Jude Medical by 3.4% in the second quarter. NEXT Financial Group Inc now owns 4,550 shares of the medical technology company’s stock valued at $354,000 after buying an additional 150 shares in the last quarter. 81.78% of the stock is owned by institutional investors and hedge funds.

Shares of St. Jude Medical Inc. (NYSE:STJ) traded up 0.70% during mid-day trading on Wednesday, reaching $79.44. The company’s stock had a trading volume of 2,371,775 shares. St. Jude Medical Inc. has a one year low of $48.83 and a one year high of $84.00. The stock has a 50 day moving average of $80.85 and a 200-day moving average of $73.07. The stock has a market cap of $22.63 billion, a P/E ratio of 34.54 and a beta of 1.32.

St. Jude Medical (NYSE:STJ) last issued its earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. St. Jude Medical had a return on equity of 27.60% and a net margin of 11.40%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. On average, equities research analysts expect that St. Jude Medical Inc. will post $4.06 EPS for the current fiscal 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 1.56%. The ex-dividend date is Wednesday, September 28th. St. Jude Medical’s dividend payout ratio is currently 53.91%.

Several research firms have issued reports on STJ. JPMorgan Chase & Co. reissued a “hold” rating on shares of St. Jude Medical in a report on Sunday, July 17th. Zacks Investment Research lowered St. Jude Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Barclays PLC upped their price objective on 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. Wedbush lowered St. Jude Medical from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $70.00 to $84.00 in a research note on Friday, July 15th. Finally, Leerink Swann lowered St. Jude Medical from an “outperform” rating to a “market perform” rating in a research note on Monday, July 11th. Twenty-one research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. St. Jude Medical currently has a consensus rating of “Hold” and an average price target of $74.68.

About St. Jude Medical

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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