Sanders Capital LLC Decreases Position in St. Jude Medical Inc. (STJ)
Sanders Capital LLC reduced its stake in shares of St. Jude Medical Inc. (NYSE:STJ) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,922,450 shares of the medical technology company’s stock after selling 315,416 shares during the period. St. Jude Medical comprises 3.2% of Sanders Capital LLC’s portfolio, making the stock its 14th largest position. Sanders Capital LLC owned 1.71% of St. Jude Medical worth $394,933,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in St. Jude Medical by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,393,383 shares of the medical technology company’s stock valued at $406,636,000 after buying an additional 100,767 shares during the period. BlackRock Fund Advisors raised its stake in St. Jude Medical by 1.3% in the first quarter. BlackRock Fund Advisors now owns 5,151,367 shares of the medical technology company’s stock worth $283,325,000 after buying an additional 65,443 shares during the period. BlackRock Group LTD raised its stake in St. Jude Medical by 5.6% in the first quarter. BlackRock Group LTD now owns 3,382,971 shares of the medical technology company’s stock worth $186,062,000 after buying an additional 179,862 shares during the period. FDO Partners LLC purchased a new stake in St. Jude Medical during the first quarter worth $371,000. Finally, Teachers Advisors Inc. raised its stake in St. Jude Medical by 6.1% in the first quarter. Teachers Advisors Inc. now owns 289,349 shares of the medical technology company’s stock worth $15,914,000 after buying an additional 16,741 shares during the period. 81.59% of the stock is currently owned by institutional investors.
Shares of St. Jude Medical Inc. (NYSE:STJ) traded up 0.15% during mid-day trading on Friday, hitting $80.86. 1,298,194 shares of the stock were exchanged. The stock’s 50 day moving average is $79.55 and its 200-day moving average is $74.92. St. Jude Medical Inc. has a 12 month low of $48.83 and a 12 month high of $84.00. The stock has a market cap of $23.04 billion, a PE ratio of 35.16 and a beta of 1.16.
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, hitting the Zacks’ consensus estimate of $1.06. The business earned $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. St. Jude Medical had a net margin of 11.40% and a return on equity of 27.60%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. On average, analysts anticipate that St. Jude Medical Inc. will post $4.06 EPS for the current year.
The company 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 $0.31 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.53%. St. Jude Medical’s dividend payout ratio is presently 53.91%.
A number of research firms recently weighed in on STJ. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of St. Jude Medical in a report on Sunday, July 17th. 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 report on Friday, July 15th. Zacks Investment Research lowered shares of St. Jude Medical from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. 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. Finally, Leerink Swann reaffirmed a “hold” rating and set a $85.00 target price on shares of St. Jude Medical in a report on Thursday, July 21st. Twenty-one analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price 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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