Stoneridge Investment Partners buys $12,237,123 stake in St. Jude Medical (STJ)

St. Jude Medical (STJ) : Stoneridge Investment Partners scooped up 7,797 additional shares in St. Jude Medical during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 148,852 shares of St. Jude Medical which is valued at $12,237,123.St. Jude Medical makes up approximately 1.73% of Stoneridge Investment Partners’s portfolio.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in STJ by selling 1,224 shares or 37.91% in the most recent quarter. The Hedge Fund company now holds 2,005 shares of STJ which is valued at $164,831. Jlb Associates Inc sold out all of its stake in STJ during the most recent quarter. The investment firm sold 9,798 shares of STJ which is valued $800,497. New England Research Management sold out all of its stake in STJ during the most recent quarter. The investment firm sold 6,025 shares of STJ which is valued $470,733.

St. Jude Medical opened for trading at $82.69 and hit $83.475 on the upside on Friday, eventually ending the session at $83.04, with a gain of 0.46% or 0.38 points. The heightened volatility saw the trading volume jump to 20,96,604 shares. Company has a market cap of $23,606 M.

On the company’s financial health, St. Jude Medical reported $1.06 EPS for the quarter, based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus estimate of $1.06. The company had revenue of $1562.00 million for the quarter, compared to analysts expectations of $1552.79 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on St. Jude Medical. Company shares were Downgraded by Wedbush on Jul 15, 2016 to ” Neutral”, Firm has raised the Price Target to $ 84 from a previous price target of $70 .St. Jude Medical was Downgraded by Leerink Partners to ” Mkt Perform” on Jul 11, 2016. St. Jude Medical was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on May 10, 2016.

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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