St. Jude Medical Inc. (STJ) Trading Down 7.6%
St. Jude Medical Inc. (NYSE:STJ)’s share price fell 7.6% on Thursday . The stock 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 research firms recently weighed in on STJ. Credit Suisse Group AG downgraded St. Jude Medical from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $67.00 to $81.00 in a research report on Tuesday, May 3rd. Argus reissued a “hold” rating on shares of St. Jude Medical in a report on Monday, May 2nd. Morgan Stanley cut St. Jude Medical from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $67.00 to $81.00 in a report on Monday, May 2nd. Wells Fargo & Co. reissued a “hold” rating on shares of St. Jude Medical in a report on Saturday, April 30th. Finally, Canaccord Genuity reissued a “hold” rating on shares of St. Jude Medical in a report on Saturday, April 30th. Twenty-two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $75.93.
The company has a 50-day moving average price of $82.13 and a 200 day moving average price of $69.87. The firm has a market capitalization of $22.23 billion and a P/E ratio of 33.92.
St. Jude Medical (NYSE:STJ) last released its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.06. The business earned $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that St. Jude Medical Inc. will post $4.06 EPS for the current fiscal year.
The firm 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 $0.31 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%.
A hedge fund recently raised its stake in St. Jude Medical stock. Advisors Asset Management Inc. boosted its position in St. Jude Medical Inc. (NYSE:STJ) by 32.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,002 shares of the medical technology company’s stock after buying an additional 4,916 shares during the period. Advisors Asset Management Inc.’s holdings in St. Jude Medical were worth $1,236,000 at the end of the most recent quarter.
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.