Portland Global Advisors LLC cut its stake in shares of St. Jude Medical Inc. (NYSE:STJ) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,932 shares of the medical technology company’s stock after selling 20 shares during the period. St. Jude Medical comprises about 1.2% of Portland Global Advisors LLC’s investment portfolio, making the stock its 13th largest position. Portland Global Advisors LLC’s holdings in St. Jude Medical were worth $2,725,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Conning Inc. raised its stake in St. Jude Medical by 0.3% in the second quarter. Conning Inc. now owns 6,753 shares of the medical technology company’s stock valued at $527,000 after buying an additional 20 shares during the last quarter. Strs Ohio raised its stake in St. Jude Medical by 19.0% in the second quarter. Strs Ohio now owns 6,727 shares of the medical technology company’s stock valued at $524,000 after buying an additional 1,075 shares during the last quarter. Stoneridge Investment Partners LLC raised its stake in St. Jude Medical by 5.5% in the second quarter. Stoneridge Investment Partners LLC now owns 148,852 shares of the medical technology company’s stock valued at $11,610,000 after buying an additional 7,797 shares during the last quarter. Bank of Montreal Can acquired a new stake in St. Jude Medical during the second quarter valued at about $20,502,000. Finally, Shell Asset Management Co. raised its stake in St. Jude Medical by 55.4% in the second quarter. Shell Asset Management Co. now owns 22,619 shares of the medical technology company’s stock valued at $1,764,000 after buying an additional 8,064 shares during 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 0.21% during trading on Thursday, reaching $79.61. 2,229,774 shares of the company traded hands. The company has a 50 day moving average price of $80.74 and a 200 day moving average price of $73.11. St. Jude Medical Inc. has a 12-month low of $48.83 and a 12-month high of $84.00. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of 34.61 and a beta of 1.32.

St. Jude Medical (NYSE:STJ) last released its quarterly earnings results on Wednesday, July 20th. The medical technology company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. St. Jude Medical had a net margin of 11.40% and a return on equity of 27.60%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the firm earned $1.07 earnings per share. St. Jude Medical’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts predict that St. Jude Medical Inc. will post $4.06 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a 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 recently issued reports on STJ. Jefferies Group reaffirmed a “hold” rating and issued a $60.00 price objective on shares of St. Jude Medical in a research note on Monday, September 12th. Argus reissued a “hold” rating on shares of St. Jude Medical in a research report on Sunday, August 28th. Credit Suisse Group AG reissued a “neutral” rating and set a $81.00 target price on shares of St. Jude Medical in a research report on Sunday, August 28th. Barclays PLC reissued an “equal weight” rating and set a $83.00 target price on shares of St. Jude Medical in a research report on Monday, August 15th. Finally, Zacks Investment Research lowered shares of St. Jude Medical from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Twenty-one analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price 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.

5 Day Chart for NYSE:STJ

Want to see what other hedge funds are holding STJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for St. Jude Medical Inc. (NYSE:STJ).

Receive News & Ratings for St. Jude Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for St. Jude Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.