Sumitomo Mitsui Asset Management Company LTD raised its position in shares of St. Jude Medical Inc. (NYSE:STJ) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,778 shares of the medical technology company’s stock after buying an additional 789 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in St. Jude Medical were worth $1,698,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in STJ. Renaissance Technologies LLC raised its stake in shares of St. Jude Medical by 138.2% in the first quarter. Renaissance Technologies LLC now owns 1,920,213 shares of the medical technology company’s stock worth $105,612,000 after buying an additional 1,114,100 shares during the period. Bridger Management LLC purchased a new position in St. Jude Medical during the first quarter valued at about $50,105,000. BNP Paribas Arbitrage SA boosted its position in St. Jude Medical by 515.9% in the second quarter. BNP Paribas Arbitrage SA now owns 557,962 shares of the medical technology company’s stock valued at $43,521,000 after buying an additional 467,365 shares in the last quarter. AXA boosted its position in St. Jude Medical by 24.4% in the first quarter. AXA now owns 1,888,380 shares of the medical technology company’s stock valued at $103,861,000 after buying an additional 370,895 shares in the last quarter. Finally, Sector Gamma AS boosted its position in St. Jude Medical by 313.3% in the first quarter. Sector Gamma AS now owns 473,514 shares of the medical technology company’s stock valued at $26,043,000 after buying an additional 358,944 shares in the last quarter. Institutional investors own 81.51% of the company’s stock.
Shares of St. Jude Medical Inc. (NYSE:STJ) traded down 0.41% on Monday, hitting $77.66. The stock had a trading volume of 2,090,215 shares. St. Jude Medical Inc. has a 52 week low of $48.83 and a 52 week high of $84.00. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of 33.77 and a beta of 1.16. The company has a 50-day moving average of $79.09 and a 200 day moving average of $75.83.
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, hitting the consensus estimate of $1.06. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. St. Jude Medical had a return on equity of 27.60% and a net margin of 11.40%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. On average, equities research analysts predict that St. Jude Medical Inc. will post $4.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, September 28th. St. Jude Medical’s dividend payout ratio (DPR) is presently 53.91%.
Several equities analysts recently issued reports on the company. Barclays PLC reiterated an “equal weight” rating and issued a $83.00 price target on shares of St. Jude Medical in a report on Monday, August 15th. Canaccord Genuity set a $85.00 price target on St. Jude Medical and gave the company a “hold” rating in a report on Wednesday, July 20th. Zacks Investment Research cut St. Jude Medical from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Cowen and Company reiterated a “buy” rating and issued a $85.00 price target on shares of St. Jude Medical in a report on Tuesday, October 11th. Finally, Leerink Swann reiterated a “hold” rating and issued a $85.00 price target on shares of St. Jude Medical in a report on Thursday, July 21st. Twenty-one research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.28.
St. Jude Medical Company Profile
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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