Investors Buy St. Jude Medical Inc. (STJ) on Weakness
Investors purchased shares of St. Jude Medical Inc. (NYSE:STJ) on weakness during trading hours on Wednesday. $94.31 million flowed into the stock on the tick-up and $43.30 million flowed out of the stock on the tick-down, for a money net flow of $51.01 million into the stock. Of all equities tracked, St. Jude Medical had the 24th highest net in-flow for the day. St. Jude Medical traded down ($0.71) for the day and closed at $77.92
Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of St. Jude Medical in a research note on Sunday, July 17th. Zacks Investment Research cut shares of St. Jude Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Barclays PLC upped their price objective on shares of St. Jude Medical from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, July 21st. Wedbush cut shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $70.00 to $84.00 in a research note on Friday, July 15th. Finally, Leerink Swann cut shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a research note on Monday, July 11th. Twenty-two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $75.17.
The company’s 50-day moving average price is $81.93 and its 200-day moving average price is $70.62. The company has a market cap of $22.20 billion and a PE ratio of 33.88.
St. Jude Medical (NYSE:STJ) last released its earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the firm posted $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, analysts predict that St. Jude Medical Inc. will post $4.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors 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 raised its stake in St. Jude Medical Inc. (NYSE:STJ) by 32.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
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.