Trade Report: The St. Jude Medical Inc. (STJ) Set to Announce Quarterly Earnings on Wednesday

The St. Jude Medical Inc. (STJ) Set to Announce Quarterly Earnings on Wednesday

St. Jude Medical Inc. (NYSE:STJ) is scheduled to issue its Q316 quarterly earnings data on Wednesday, October 19th. Analysts expect the company to announce earnings of $1.01 per share and revenue of $1.50 billion for the quarter.

St. Jude Medical Inc. (NYSE:STJ) opened at 77.66 on Tuesday. St. Jude Medical Inc. has a 52-week low of $48.83 and a 52-week high of $84.00. The company has a market cap of $22.13 billion, a PE ratio of 33.77 and a beta of 1.16. The company has a 50-day moving average of $79.08 and a 200 day moving average of $76.29.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.60%. St. Jude Medical’s payout ratio is presently 53.91%.

Several research firms recently issued reports on STJ. JPMorgan Chase & Co. reiterated a “hold” rating on shares of St. Jude Medical in a research report on Sunday, July 17th. Wedbush lowered shares of St. Jude Medical from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $70.00 to $84.00 in a research report on Friday, July 15th. Zacks Investment Research lowered shares of St. Jude Medical from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Leerink Swann reiterated a “hold” rating and set a $85.00 price target on shares of St. Jude Medical in a research report on Thursday, July 21st. Finally, Canaccord Genuity set a $85.00 price target on shares of St. Jude Medical and gave the stock a “hold” rating in a research report on Wednesday, July 20th. Twenty-one 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 target price of $75.28.

Several hedge funds and other institutional investors have recently modified their holdings of STJ. Alpine Associates Management Inc. acquired a new position in shares of St. Jude Medical during the second quarter worth about $133,771,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of St. Jude Medical by 653.6% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 856,445 shares of the medical technology company’s stock worth $66,803,000 after buying an additional 742,800 shares in the last quarter. Credit Suisse AG boosted its position in shares of St. Jude Medical by 141.6% in the second quarter. Credit Suisse AG now owns 1,142,067 shares of the medical technology company’s stock worth $89,081,000 after buying an additional 669,322 shares in the last quarter. Vertex One Asset Management Inc. acquired a new position in shares of St. Jude Medical during the second quarter worth about $34,248,000. Finally, Perceptive Advisors LLC acquired a new position in shares of St. Jude Medical during the second quarter worth about $18,174,000. Hedge funds and other institutional investors own 81.51% of the company’s stock.

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