Traders 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 equities 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
STJ has been the topic of several research analyst reports. SunTrust Banks Inc. lowered shares of St. Jude Medical from a “buy” rating to a “neutral” rating and raised their price target for the stock from $70.00 to $80.00 in a research report on Tuesday, May 10th. Argus restated a “hold” rating on shares of St. Jude Medical in a research report on Sunday, August 28th. Credit Suisse Group AG restated a “neutral” rating and issued a $81.00 price target on shares of St. Jude Medical in a research report on Sunday, August 28th. Barclays PLC restated an “equal weight” rating and issued a $83.00 price target on shares of St. Jude Medical in a research report on Monday, August 15th. Finally, Leerink Swann lowered shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. Twenty-one analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $74.93.
The stock’s 50-day moving average price is $81.90 and its 200 day moving average price is $70.67. The stock has a market capitalization of $22.41 billion and a PE ratio of 34.20.
St. Jude Medical (NYSE:STJ) last posted its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the company earned $1.07 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that St. Jude Medical Inc. will post $4.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders 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 dividend yield of 1.58%.
An institutional investor recently raised its position in St. Jude Medical stock. AJO LP raised its position in shares of St. Jude Medical Inc. (NYSE:STJ) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the SEC.
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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