St. Jude Medical Inc. to Post Q2 2018 Earnings of $1.30 Per Share, Leerink Swann Forecasts (STJ)
St. Jude Medical Inc. (NYSE:STJ) – Investment analysts at Leerink Swann boosted their Q2 2018 earnings estimates for shares of St. Jude Medical in a research report issued to clients and investors on Tuesday. Leerink Swann analyst D. Antalffy now expects that the brokerage will post earnings of $1.30 per share for the quarter, up from their prior estimate of $1.28. Leerink Swann currently has a “Hold” rating and a $85.00 target price on the stock.
St. Jude Medical (NYSE:STJ) last posted its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.06. The business earned $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. St. Jude Medical had a return on equity of 27.60% and a net margin of 11.40%. St. Jude Medical’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share.
A number of other research firms have also commented on STJ. Barclays PLC reiterated an “equal weight” rating and issued a $83.00 price target on shares of St. Jude Medical in a research report on Monday, August 15th. Zacks Investment Research lowered St. Jude Medical from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Canaccord Genuity set a $85.00 price target on St. Jude Medical and gave the company a “hold” rating in a research report on Wednesday, July 20th. Wedbush lowered St. Jude Medical from an “outperform” rating to a “neutral” rating and upped their price target for the company from $70.00 to $84.00 in a research report on Friday, July 15th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of St. Jude Medical in a research report on Sunday, July 17th. Twenty-one analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $74.68.
St. Jude Medical (NYSE:STJ) opened at 79.76 on Friday. St. Jude Medical has a 12-month low of $48.83 and a 12-month high of $84.00. The company has a market capitalization of $22.73 billion, a P/E ratio of 34.68 and a beta of 1.32. The company’s 50 day moving average price is $79.92 and its 200-day moving average price is $74.19.
The company 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. This represents a $1.24 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, September 28th. St. Jude Medical’s dividend payout ratio (DPR) is 53.91%.
A number of institutional investors have recently made changes to their positions in the stock. Evercore Wealth Management LLC raised its position in shares of St. Jude Medical by 9.6% in the second quarter. Evercore Wealth Management LLC now owns 1,700 shares of the medical technology company’s stock valued at $132,000 after buying an additional 149 shares during the period. Macquarie Group Ltd. raised its position in shares of St. Jude Medical by 11.9% in the second quarter. Macquarie Group Ltd. now owns 93,121 shares of the medical technology company’s stock valued at $7,263,000 after buying an additional 9,940 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of St. Jude Medical during the second quarter valued at $895,000. Kentucky Retirement Systems purchased a new position in shares of St. Jude Medical during the second quarter valued at $1,886,000. Finally, Nomura Holdings Inc. raised its position in shares of St. Jude Medical by 131.1% in the second quarter. Nomura Holdings Inc. now owns 10,534 shares of the medical technology company’s stock valued at $820,000 after buying an additional 44,417 shares during the period. 81.78% of the stock is owned by institutional investors and hedge funds.
St. Jude Medical Company Profile
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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