Retirement Systems of Alabama raised its position in shares of St. Jude Medical Inc. (NYSE:STJ) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,927 shares of the medical technology company’s stock after buying an additional 699 shares during the period. Retirement Systems of Alabama’s holdings in St. Jude Medical were worth $11,304,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of STJ. Sphinx Trading LP acquired a new stake in St. Jude Medical during the second quarter worth about $107,000. IFP Advisors Inc increased 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 period. Checchi Capital Advisers LLC increased its stake in St. Jude Medical by 2.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,332 shares of the medical technology company’s stock worth $182,000 after buying an additional 64 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in St. Jude Medical during the second quarter worth about $203,000. Finally, Capital Investment Advisors LLC acquired a new stake in St. Jude Medical during the second quarter worth about $211,000. Institutional investors own 81.59% of the company’s stock.
St. Jude Medical Inc. (NYSE:STJ) traded down 0.41% on Tuesday, hitting $79.83. The stock had a trading volume of 2,393,253 shares. The stock has a market capitalization of $22.75 billion, a price-to-earnings ratio of 34.71 and a beta of 1.16. St. Jude Medical Inc. has a 1-year low of $48.83 and a 1-year high of $84.00. The company has a 50-day moving average price of $79.71 and a 200-day moving average price of $74.84.
St. Jude Medical (NYSE:STJ) last posted its earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.06. The business earned $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. St. Jude Medical had a return on equity of 27.60% and a net margin of 11.40%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. Equities analysts predict that St. Jude Medical Inc. will post $4.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, September 28th. St. Jude Medical’s payout ratio is presently 53.91%.
STJ has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of St. Jude Medical from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, June 21st. Barclays PLC boosted 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 report on Thursday, July 21st. Canaccord Genuity set a $85.00 target price on shares of St. Jude Medical and gave the stock a “hold” rating in a report on Wednesday, July 20th. Leerink Swann restated a “hold” rating and set a $85.00 target price on shares of St. Jude Medical in a report on Thursday, July 21st. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of St. Jude Medical in a report on Sunday, July 17th. Twenty-one equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average 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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