St. Jude Medical’s (STJ) “Buy” Rating Reiterated at Cowen and Company
St. Jude Medical Inc. (NYSE:STJ)‘s stock had its “buy” rating reiterated by analysts at Cowen and Company in a report released on Tuesday.
A number of other equities analysts have also weighed in on STJ. Zacks Investment Research lowered shares of St. Jude Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Leerink Swann lowered shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. 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 research report on Friday, July 15th. JPMorgan Chase & Co. restated a “hold” rating on shares of St. Jude Medical in a research report on Sunday, July 17th. Finally, Barclays PLC upped 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 research report on Thursday, July 21st. Twenty-one research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. St. Jude Medical has an average rating of “Hold” and an average target price of $74.68.
St. Jude Medical (NYSE:STJ) traded down 3.796% during trading on Tuesday, hitting $78.195. 11,064,347 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $79.45 and a 200 day moving average price of $75.60. St. Jude Medical has a 52-week low of $48.83 and a 52-week high of $84.00. The company has a market cap of $22.28 billion, a price-to-earnings ratio of 33.998 and a beta of 1.16.
St. Jude Medical (NYSE:STJ) last posted its quarterly earnings results on Wednesday, July 20th. The medical technology company reported $1.06 earnings per share for the quarter, hitting 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 net margin of 11.40% and a return on equity of 27.60%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. On average, equities research analysts predict that St. Jude Medical 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. Investors of record on Friday, September 30th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, September 28th. St. Jude Medical’s dividend payout ratio (DPR) is presently 53.91%.
A number of hedge funds have recently added to or reduced their stakes in STJ. Sphinx Trading LP bought a new stake in St. Jude Medical during the second quarter worth approximately $107,000. Point72 Asia Hong Kong Ltd boosted its stake 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 worth $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 worth about $127,000. Evercore Wealth Management LLC raised its position in St. Jude Medical by 5.8% in the second quarter. Evercore Wealth Management LLC now owns 1,641 shares of the medical technology company’s stock worth $128,000 after buying an additional 90 shares in the last quarter. Finally, IFP Advisors Inc raised its position 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 in the last quarter. Institutional investors own 81.59% of the company’s stock.
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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