St. Jude Medical Inc. (STJ) Sees Large Volume Increase
Shares of St. Jude Medical Inc. (NYSE:STJ) saw an uptick in trading volume on Friday . 6,796,322 shares traded hands during mid-day trading, an increase of 89% from the previous session’s volume of 3,597,841 shares.The stock last traded at $75.51 and had previously closed at $77.82.
Several research firms recently issued reports on STJ. Credit Suisse Group AG cut St. Jude Medical from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $67.00 to $81.00 in a research report on Tuesday, May 3rd. Argus reaffirmed a “hold” rating on shares of St. Jude Medical in a research report on Monday, May 2nd. Morgan Stanley cut St. Jude Medical from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $67.00 to $81.00 in a research report on Monday, May 2nd. Wells Fargo & Co. reaffirmed a “hold” rating on shares of St. Jude Medical in a research 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 company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $75.93.
The firm has a market capitalization of $22.23 billion and a PE ratio of 33.92. The company’s 50-day moving average price is $82.13 and its 200 day moving average price is $69.87.
St. Jude Medical (NYSE:STJ) last released its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The firm earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 EPS. On average, 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 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%.
An institutional investor recently raised its position in St. Jude Medical stock. Dimensional Fund Advisors LP boosted its position in shares of St. Jude Medical Inc. (NYSE:STJ) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 823,890 shares of the medical technology company’s stock after buying an additional 199,858 shares during the period. Dimensional Fund Advisors LP owned about 0.29% of St. Jude Medical worth $50,894,000 at the end of the most recent reporting 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.