Investors Buy Shares of St. Jude Medical Inc. (STJ) on Weakness
Investors purchased shares of St. Jude Medical Inc. (NYSE:STJ) on weakness during trading hours on Thursday. $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 companies tracked, St. Jude Medical had the 27th highest net in-flow for the day. St. Jude Medical traded down ($0.71) for the day and closed at $77.92
Several brokerages have recently issued reports on STJ. JPMorgan Chase & Co. reissued a “hold” rating on shares of St. Jude Medical in a report on Sunday, July 17th. Zacks Investment Research lowered shares of St. Jude Medical from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Barclays PLC upped their target price on shares of St. Jude Medical from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. Wedbush lowered shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $84.00 in a research note on Friday, July 15th. Finally, Leerink Swann lowered shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a research note on Monday, July 11th. Twenty-one equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. St. Jude Medical presently has a consensus rating of “Hold” and a consensus target price of $74.93.
The stock has a market cap of $22.26 billion and a price-to-earnings ratio of 33.97. The stock has a 50 day moving average of $81.97 and a 200-day moving average of $70.62.
St. Jude Medical (NYSE:STJ) last released its quarterly earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. Equities research analysts forecast that St. Jude Medical Inc. will post $4.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, September 28th.
An institutional investor recently raised its position in St. Jude Medical stock. AJO LP increased its stake in St. Jude Medical Inc. (NYSE:STJ) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,038 shares of the medical technology company’s stock after buying an additional 1,948 shares during the period. AJO LP’s holdings in St. Jude Medical were worth $2,041,000 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.
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