Shares of St. Jude Medical (STJ) Sees Large Outflow of Money

St. Jude Medical (STJ): The stock had negative money flow to the tune of ($1.22 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $5.85 million, whereas, the outflow of money on downticks was $7.07 million and the ratio between the two was 0.83. The block trade had a negative net money flow of ($1.38 million). On the other hand, downticks amounted to $1.38 million of the traded value, which shows distribution in the stock by traders. St. Jude Medical (STJ) closed with marginal gains of 92 cents to end the day at $81.13, an increase of 1.15% over the previous days close. The stock recorded 0.8% for the week.


Also, Equity Analysts at the Brokerage Firm, Wedbush, downgrades their rating on the shares of St. Jude Medical (NYSE:STJ). Wedbush has a Neutral rating on the shares. Previously, the analysts had a Outperform rating on the shares. As per the latest research report, the brokerage house raises the price target to $84 per share from a prior target of $70. The rating by the firm was issued on July 15, 2016.

St. Jude Medical (NYSE:STJ): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $80.64 and $80.49 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $81.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $81.24, notching a gain of 1.28% for the day. The total traded volume was 1,710,260 . The stock had closed at $80.21 on the previous day.

The stock has recorded a 20-day Moving Average of 3.03% and the 50-Day Moving Average is 4.77%. In a related news, The officer (VP, Global Quality), of St Jude Medical Inc, Fecho Jeff had unloaded 10,408 shares at $51.71 per share in a transaction on February 5, 2016. The total value of transaction was $538,198. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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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