Los Angeles Capital Management & Equity Research Inc. cut its position in St. Jude Medical Inc. (NYSE:STJ) by 58.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,725 shares of the medical technology company’s stock after selling 3,820 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in St. Jude Medical were worth $213,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. BlackRock Fund Advisors increased its position in St. Jude Medical by 1.3% in the first quarter. BlackRock Fund Advisors now owns 5,151,367 shares of the medical technology company’s stock worth $283,325,000 after buying an additional 65,443 shares during the period. BlackRock Group LTD increased its position in St. Jude Medical by 5.6% in the first quarter. BlackRock Group LTD now owns 3,382,971 shares of the medical technology company’s stock valued at $186,062,000 after buying an additional 179,862 shares during the period. FDO Partners LLC bought a new position in St. Jude Medical during the first quarter valued at $371,000. Teachers Advisors Inc. increased its position in St. Jude Medical by 6.1% in the first quarter. Teachers Advisors Inc. now owns 289,349 shares of the medical technology company’s stock valued at $15,914,000 after buying an additional 16,741 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in St. Jude Medical by 10.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,432,300 shares of the medical technology company’s stock valued at $78,777,000 after buying an additional 134,869 shares during the period. 81.78% of the stock is owned by institutional investors and hedge funds.
Shares of St. Jude Medical Inc. (NYSE:STJ) traded up 1.01% during trading on Friday, reaching $79.76. 2,650,776 shares of the company’s stock traded hands. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 34.68 and a beta of 1.32. St. Jude Medical Inc. has a 1-year low of $48.83 and a 1-year high of $84.00. The stock has a 50-day moving average of $79.92 and a 200-day moving average of $74.19.
St. Jude Medical (NYSE:STJ) last announced its quarterly earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. St. Jude Medical had a net margin of 11.40% and a return on equity of 27.60%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts predict that St. Jude Medical Inc. will post $4.06 EPS for the current fiscal year.
The firm also recently declared 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. This represents a $1.24 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, September 28th. St. Jude Medical’s dividend payout ratio (DPR) is presently 53.91%.
STJ has been the topic of several analyst reports. Barclays PLC lifted their target price on St. Jude Medical from $80.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, July 21st. Credit Suisse Group AG reiterated a “neutral” rating and set a $81.00 target price on shares of St. Jude Medical in a research report on Sunday, August 28th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of St. Jude Medical in a research report on Sunday, July 17th. Zacks Investment Research downgraded St. Jude Medical from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Leerink Swann reiterated a “hold” rating and set a $85.00 target price on shares of St. Jude Medical in a research report on Thursday, July 21st. Twenty-one equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $74.68.
About St. Jude Medical
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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