Morgan Stanley Reiterates Overweight Rating for St. Jude Medical (STJ)
St. Jude Medical (NYSE:STJ)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a research report issued to clients and investors on Friday, Analyst Ratings Network.com reports. They currently have a $75.00 price objective on the stock. Morgan Stanley’s price target would suggest a potential upside of 18.63% from the stock’s previous close.
The analysts wrote, “We remain comfortable that St. Jude’s top line is poised for acceleration given underlying business strength, CRT-D momentum and CardioMEMs. However, Nanostim’s early European failures and MDT’s more positive comparative experience did raise concerns at HRS.”
St. Jude Medical (NYSE:STJ) traded down 1.15% on Friday, hitting $62.49. The stock had a trading volume of 252,482 shares. St. Jude Medical has a 52 week low of $42.03 and a 52 week high of $68.79. The stock’s 50-day moving average is $63.86 and its 200-day moving average is $62.40. The company has a market cap of $18.078 billion and a P/E ratio of 24.59.
St. Jude Medical (NYSE:STJ) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $1.36 million for the quarter, compared to the consensus estimate of $1.36 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that St. Jude Medical will post $3.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, June 26th.
A number of other firms have also recently commented on STJ. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of St. Jude Medical in a research note on Monday, April 21st. They now have a $53.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of St. Jude Medical in a research note on Thursday, April 17th. They now have a $78.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of St. Jude Medical in a research note on Thursday, April 17th. They now have a $64.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $62.72.
St. Jude Medical, Inc (NYSE:STJ) develops, manufactures and distributes cardiovascular medical devices.
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