RBC Capital Upgrades St. Jude Medical to Sector Perform (STJ)
St. Jude Medical (NYSE:STJ) was upgraded by RBC Capital from an “underperform” rating to a “sector perform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $64.00 target price on the stock, up from their previous target price of $44.00. RBC Capital’s price target points to a potential downside of 1.39% from the stock’s previous close.
The analysts wrote, “While our survey work a year ago showed heightened concern about the durability of the Durata lead and the potential for U.S. ICD share loss, STJ was able to weather the controversy and maintain share in the U.S. market,” the report noted. “For 2014, our survey is pointing to a similar outcome. We believe that our EP survey is pointing to stable share trends for two reasons: 1) data out of HRS last May and recent performance reports from the company point to the durability of Durata holding up longer-term, reducing the risk of a recall; and 2) STJ continues to take share in the tri-chamber (CRT-D) segment of the market, owing to its unique quadpole technology, offsetting any loss in the single/dual chamber market.” Some highlights from the report included: -”Given our survey results, we see minimal sales and EPS risk.” -”Sector multiple now warranted. Raising price target to $64.”-”Stable end markets and market share, supported by our recent CRM survey work.”
STJ has been the subject of a number of other recent research reports. Analysts at Morgan Stanley upgraded shares of St. Jude Medical from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday. They now have a $75.00 price target on the stock. Separately, analysts at BMO Capital Markets upgraded shares of St. Jude Medical from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, December 16th. They now have a $66.00 price target on the stock, up previously from $59.00. Finally, analysts at Barclays raised their price target on shares of St. Jude Medical from $63.00 to $65.00 in a research note to investors on Wednesday, December 11th. They now have an “overweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.11.
Shares of St. Jude Medical (NYSE:STJ) traded up 1.98% during mid-day trading on Tuesday, hitting $64.90. The stock had a trading volume of 4,722,758 shares. St. Jude Medical has a 1-year low of $36.99 and a 1-year high of $64.15. The stock’s 50-day moving average is $59.70 and its 200-day moving average is $54.44. The company has a market cap of $18.939 billion and a P/E ratio of 25.99.
St. Jude Medical (NYSE:STJ) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.89 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that St. Jude Medical will post $3.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, December 27th.
St. Jude Medical, Inc (NYSE:STJ) develops, manufactures and distributes cardiovascular medical devices.
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