Eagle Ridge Investment Management Lowers stake in St. Jude Medical (STJ)

St. Jude Medical (STJ) : Eagle Ridge Investment Management reduced its stake in St. Jude Medical by 0.06% during the most recent quarter end. The investment management company now holds a total of 76,261 shares of St. Jude Medical which is valued at $4,626,755 after selling 49 shares in St. Jude Medical , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.St. Jude Medical makes up approximately 1.06% of Eagle Ridge Investment Management’s portfolio.

St. Jude Medical opened for trading at $60.34 and hit $62.12 on the upside on Wednesday, eventually ending the session at $61.95, with a gain of 2.94% or 1.77 points. The heightened volatility saw the trading volume jump to 29,75,847 shares. Company has a market cap of $17,570 M.

Other Hedge Funds, Including , Jnba Financial Advisors reduced its stake in STJ by selling 300 shares or 34.32% in the most recent quarter. The Hedge Fund company now holds 574 shares of STJ which is valued at $34,825. St. Jude Medical makes up approx 0.01% of Jnba Financial Advisors’s portfolio.Somerset Trust Co reduced its stake in STJ by selling 145 shares or 0.5% in the most recent quarter. The Hedge Fund company now holds 29,004 shares of STJ which is valued at $1,701,955. St. Jude Medical makes up approx 1.12% of Somerset Trust Co’s portfolio.Gofen Glossberg Il reduced its stake in STJ by selling 87 shares or 1.85% in the most recent quarter. The Hedge Fund company now holds 4,627 shares of STJ which is valued at $271,512. St. Jude Medical makes up approx 0.01% of Gofen Glossberg Il’s portfolio.

On the company’s financial health, St. Jude Medical reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.88. The company had revenue of $1448.00 million for the quarter, compared to analysts expectations of $1437.78 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on St. Jude Medical. St. Jude Medical was Initiated by Nomura to “Buy” on Mar 17, 2016. Shares were Reiterated by Oppenheimer on Jan 28, 2016 to “Perform” and Lowered the Price Target to $ 64 from a previous price target of $72 .Shares were Reiterated by RBC Capital Mkts on Jan 25, 2016 to “Sector Perform” and Lowered the Price Target to $ 57 from a previous price target of $66 .

St. Jude Medical Inc. develops manufactures and distributes 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. Its six principal product categories include tachycardia implantable cardioverter defibrillator (ICD) systems bradycardia pacemaker systems atrial fibrillation (AF) products (electrophysiology introducers and catheters advanced cardiac mapping navigation and recording systems and ablation systems) vascular products (vascular closure products pressure measurement guidewires optical coherence tomography (OCT) imaging products heart failure monitoring device and other vascular accessories) structural heart products and neuromodulation products (spinal cord stimulation and radiofrequency ablation to treat chronic pain and deep brain stimulation to treat movement disorders).

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