St. Jude Medical Inc. (NYSE:STJ) declared a quarterly dividend on Wednesday, August 3rd. Investors of record on Friday, September 30th will be given a dividend of 0.31 per share by the medical technology company on Friday, October 28th. This represents a $1.24 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, September 28th.
Shares of St. Jude Medical (NYSE:STJ) opened at 79.61 on Friday. St. Jude Medical has a 52 week low of $48.83 and a 52 week high of $84.00. The stock’s 50 day moving average is $80.63 and its 200-day moving average is $73.16. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 34.61 and a beta of 1.32.
St. Jude Medical (NYSE:STJ) last released its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 EPS for the quarter, meeting the Thomson Reuters’ 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 analyst estimates of $1.55 billion. During the same quarter last year, the business earned $1.07 earnings per share. St. Jude Medical’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that St. Jude Medical will post $4.06 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd raised its position in St. Jude Medical by 366.7% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,400 shares of the medical technology company’s stock valued at $109,000 after buying an additional 1,100 shares during the period. SevenBridge Financial Group LLC acquired a new position in St. Jude Medical during the second quarter valued at approximately $127,000. White Pine Capital LLC acquired a new position in St. Jude Medical during the second quarter valued at approximately $234,000. Advisor Partners LLC acquired a new position in St. Jude Medical during the second quarter valued at approximately $244,000. Finally, Fifth Third Bancorp raised its position in St. Jude Medical by 30.9% in the second quarter. Fifth Third Bancorp now owns 3,389 shares of the medical technology company’s stock valued at $264,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 81.78% of the company’s stock.
Several research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of St. Jude Medical in a report on Sunday, July 17th. Zacks Investment Research downgraded shares of St. Jude Medical from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Barclays PLC raised their price objective 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. Wedbush downgraded shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $84.00 in a report on Friday, July 15th. Finally, Leerink Swann downgraded shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a report on Monday, July 11th. Twenty-one research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $74.68.
St. Jude Medical Company Profile
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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