LMR Partners LLP bought a new position in St. Jude Medical Inc. (NYSE:STJ) during the second quarter, Holdings Channel reports. The firm bought 100,000 shares of the medical technology company’s stock, valued at approximately $7,800,000. St. Jude Medical makes up about 1.2% of LMR Partners LLP’s holdings, making the stock its 10th largest position.
Other large investors have also bought and sold shares of the company. Renaissance Technologies LLC raised its stake in 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 valued at $105,612,000 after buying an additional 1,114,100 shares during the period. Bridger Management LLC purchased a new stake in St. Jude Medical during the first quarter valued at approximately $50,105,000. BNP Paribas Arbitrage SA raised its stake 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 during the period. Bessemer Group Inc. raised its stake in St. Jude Medical by 31.2% in the first quarter. Bessemer Group Inc. now owns 1,749,283 shares of the medical technology company’s stock valued at $96,211,000 after buying an additional 415,641 shares during the period. Finally, AXA raised its stake 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 during the period. Institutional investors own 81.59% of the company’s stock.
Shares of St. Jude Medical Inc. (NYSE:STJ) traded down 0.67% during trading on Tuesday, reaching $79.62. 1,556,112 shares of the company were exchanged. The company has a market capitalization of $22.69 billion, a price-to-earnings ratio of 34.62 and a beta of 1.16. The stock’s 50 day moving average is $79.82 and its 200 day moving average is $74.66. St. Jude Medical Inc. has a 1-year low of $48.83 and a 1-year high of $84.00.
St. Jude Medical (NYSE:STJ) last announced its earnings results on Wednesday, July 20th. The medical technology company reported $1.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.06. St. Jude Medical had a net margin of 11.40% and a return on equity of 27.60%. The business earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that St. Jude Medical Inc. will post $4.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a $0.31 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.55%. St. Jude Medical’s payout ratio is currently 53.91%.
STJ has been the subject of several analyst reports. 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 downgraded shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and increased their target price for the company from $70.00 to $84.00 in a research report on Friday, July 15th. JPMorgan Chase & Co. reissued a “hold” rating on shares of St. Jude Medical in a research report on Sunday, July 17th. Finally, Barclays PLC increased their target price on shares of St. Jude Medical from $80.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, July 21st. Twenty-one investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.68.
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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