Whitebox Advisors LLC acquired a new stake in shares of St. Jude Medical Inc. (NYSE:STJ) during the second quarter, Holdings Channel reports. The firm acquired 190,075 shares of the medical technology company’s stock, valued at approximately $14,826,000. St. Jude Medical accounts for approximately 0.4% of Whitebox Advisors LLC’s portfolio, making the stock its 22nd largest position.
A number of other hedge funds also recently modified their holdings of STJ. Sphinx Trading LP bought a new stake in shares of St. Jude Medical during the second quarter valued at about $107,000. IFP Advisors Inc raised its stake in shares of 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 valued at $141,000 after buying an additional 330 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of 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 valued at $182,000 after buying an additional 64 shares during the period. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of St. Jude Medical during the second quarter valued at about $203,000. Finally, Capital Investment Advisors LLC bought a new stake in shares of St. Jude Medical during the second quarter valued at about $211,000. Hedge funds and other institutional investors own 81.78% of the company’s stock.
St. Jude Medical Inc. (NYSE:STJ) traded down 0.97% during midday trading on Thursday, hitting $78.96. The stock had a trading volume of 2,345,676 shares. St. Jude Medical Inc. has a one year low of $48.83 and a one year high of $84.00. The stock has a 50-day moving average price of $80.16 and a 200 day moving average price of $73.99. The firm has a market cap of $22.50 billion, a PE ratio of 34.33 and a beta of 1.32.
St. Jude Medical (NYSE:STJ) last issued its quarterly earnings data on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. St. Jude Medical had a return on equity of 27.60% and a net margin of 11.40%. The firm earned $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm earned $1.07 EPS. St. Jude Medical’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts predict that St. Jude Medical Inc. will post $4.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. St. Jude Medical’s dividend payout ratio (DPR) is presently 53.91%.
Several analysts recently issued reports on the stock. 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. Wedbush lowered shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $70.00 to $84.00 in a report on Friday, July 15th. Barclays PLC restated an “equal weight” rating and issued a $83.00 price objective on shares of St. Jude Medical in a report on Monday, August 15th. Jefferies Group restated a “hold” rating and issued a $60.00 price objective on shares of St. Jude Medical in a report on Monday, September 12th. Finally, Argus reaffirmed a “hold” rating on shares of St. Jude Medical in a research report on Sunday, August 28th. Twenty-one analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus 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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