St. Jude Medical’s Neutral Rating Reiterated at Zacks (STJ)
St. Jude Medical (NYSE:STJ)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Monday. They currently have a $69.00 price target on the stock. Zacks‘s target price suggests a potential upside of 5.20% from the stock’s previous close.
Zacks’ analyst wrote, “St. Jude’s 2014-second quarter adjusted earnings per share rose 6.25% to $1.02 and beat the Zacks Consensus Estimate by a couple of cents as well as its own guidance. Revenues increased 3.2% and also exceeded the mark by $12 million. The company’s upgraded guidance for full year 2014 is encouraging. Strong international growth should continue to aid overall revenue growth for the company. The recent CardioMEMS and NeuroTherm acquisitions are expected to boost growth in its cardiovascular and Neuromodulation segments. However, St. Jude faces increased competitive and pricing pressures, as well as currency fluctuations and other macroeconomic headwinds. Therefore, we reiterate our Neutral recommendation on St. Jude and set a price target of $69.00.”
STJ has been the subject of a number of other recent research reports. Analysts at Sterne Agee initiated coverage on shares of St. Jude Medical in a research note on Tuesday, July 29th. They set a “neutral” rating and a $74.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of St. Jude Medical in a research note on Thursday, July 17th. They now have a $81.00 price target on the stock, up previously from $74.00. Finally, analysts at Barclays reiterated an “overweight” rating on shares of St. Jude Medical in a research note on Thursday, July 17th. They now have a $78.00 price target on the stock, up previously from $75.00. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $69.56.
Shares of St. Jude Medical (NYSE:STJ) traded up 1.11% on Monday, hitting $65.59. The stock had a trading volume of 1,331,403 shares. St. Jude Medical has a one year low of $49.94 and a one year high of $71.90. The stock has a 50-day moving average of $65.65 and a 200-day moving average of $65.71. The company has a market cap of $18.673 billion and a price-to-earnings ratio of 20.90.
St. Jude Medical (NYSE:STJ) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts expect that St. Jude Medical will post $4.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, September 26th.
St. Jude Medical, Inc (NYSE:STJ) develops, manufactures and distributes cardiovascular medical devices.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.