St. Jude Medical’s (STJ) “Buy” Rating Reiterated at Cowen and Company
St. Jude Medical Inc. (NYSE:STJ)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a research report issued to clients and investors on Tuesday.
A number of other analysts have also issued reports on STJ. Zacks Investment Research lowered shares of St. Jude Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Leerink Swann lowered shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a research note on Monday, July 11th. Wedbush lowered shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $84.00 in a research note on Friday, July 15th. JPMorgan Chase & Co. restated a “hold” rating on shares of St. Jude Medical in a research note on Sunday, July 17th. Finally, Barclays PLC upped their target price on shares of St. Jude Medical from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. Twenty-one investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.68.
St. Jude Medical (NYSE:STJ) traded down 3.796% during trading on Tuesday, reaching $78.195. 11,064,347 shares of the company’s stock were exchanged. St. Jude Medical has a 52 week low of $48.83 and a 52 week high of $84.00. The stock has a 50-day moving average of $79.45 and a 200-day moving average of $75.60. The stock has a market capitalization of $22.28 billion, a PE ratio of 33.998 and a beta of 1.16.
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St. Jude Medical (NYSE:STJ) last issued its quarterly earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.06. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. St. Jude Medical had a net margin of 11.40% and a return on equity of 27.60%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. On average, equities research analysts anticipate that St. Jude Medical will post $4.06 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Wednesday, September 28th. St. Jude Medical’s dividend payout ratio is currently 53.91%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc raised its stake in St. Jude Medical by 0.8% in the first quarter. Commonwealth Equity Services Inc now owns 11,850 shares of the medical technology company’s stock worth $652,000 after buying an additional 96 shares during the last quarter. Virginia Retirement System bought a new stake in St. Jude Medical during the first quarter worth approximately $252,000. IFP Advisors Inc raised its stake in St. Jude Medical by 14.8% in the first quarter. IFP Advisors Inc now owns 2,555 shares of the medical technology company’s stock worth $141,000 after buying an additional 330 shares during the last quarter. CIBC World Markets Inc. raised its stake in St. Jude Medical by 9.0% in the first quarter. CIBC World Markets Inc. now owns 4,230 shares of the medical technology company’s stock worth $233,000 after buying an additional 350 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in St. Jude Medical during the first quarter worth approximately $360,000. Institutional investors and hedge funds own 81.59% of the company’s stock.
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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