St. Jude Medical Inc. (STJ) Shares Down 7.6%
St. Jude Medical Inc. (NYSE:STJ) shares traded down 7.6% during mid-day trading on Thursday . The company traded as low as $73.40 and last traded at $75.66, with a volume of 24,099,867 shares changing hands. The stock had previously closed at $81.88.
Several analysts have weighed in on the company. Barclays PLC reissued an “equal weight” rating and set a $83.00 price objective on shares of St. Jude Medical in a report on Monday, August 15th. Zacks Investment Research cut St. Jude Medical from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Canaccord Genuity set a $85.00 price objective on St. Jude Medical and gave the stock a “hold” rating in a report on Wednesday, July 20th. Leerink Swann reissued a “hold” rating and set a $85.00 price objective on shares of St. Jude Medical in a report on Thursday, July 21st. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of St. Jude Medical in a report on Sunday, July 17th. Twenty-two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $75.93.
The firm has a market cap of $22.17 billion and a price-to-earnings ratio of 33.83. The firm’s 50 day moving average price is $82.24 and its 200-day moving average price is $69.62.
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 Zacks’ consensus estimate of $1.06. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The business earned $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts expect that St. Jude Medical Inc. will post $4.06 earnings per share for the current year.
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 paid a $0.31 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%.
A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of St. Jude Medical by 32.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 823,890 shares of the medical technology company’s stock worth $50,894,000 after buying an additional 199,858 shares during the period. I.G. Investment Management LTD. boosted its stake in shares of St. Jude Medical by 29.7% in the fourth quarter. I.G. Investment Management LTD. now owns 228,600 shares of the medical technology company’s stock worth $14,121,000 after buying an additional 52,300 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of St. Jude Medical by 32.6% in the fourth quarter. Advisors Asset Management Inc. now owns 20,002 shares of the medical technology company’s stock worth $1,236,000 after buying an additional 4,916 shares during the period.
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.