St. Jude Medical (STJ) : Massachusetts Financial Services Co reduced its stake in St. Jude Medical by 12.59% during the most recent quarter end. The investment management company now holds a total of 19,888,713 shares of St. Jude Medical which is valued at $1,663,491,955 after selling 2,864,252 shares in St. Jude Medical , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.St. Jude Medical makes up approximately 0.80% of Massachusetts Financial Services Co’s portfolio.
Other Hedge Funds, Including , Aperio Group boosted its stake in STJ in the latest quarter, The investment management firm added 25,027 additional shares and now holds a total of 103,829 shares of St. Jude Medical which is valued at $8,684,258. St. Jude Medical makes up approx 0.07% of Aperio Group’s portfolio.South Dakota Investment Council reduced its stake in STJ by selling 13,600 shares or 24.73% in the most recent quarter. The Hedge Fund company now holds 41,400 shares of STJ which is valued at $3,462,696. St. Jude Medical makes up approx 0.07% of South Dakota Investment Council’s portfolio.Columbia Partners L L C Investment Management boosted its stake in STJ in the latest quarter, The investment management firm added 418 additional shares and now holds a total of 16,254 shares of St. Jude Medical which is valued at $1,359,485. St. Jude Medical makes up approx 0.10% of Columbia Partners L L C Investment Management’s portfolio.Cypress Capital Management reduced its stake in STJ by selling 1,142 shares or 1.06% in the most recent quarter. The Hedge Fund company now holds 107,011 shares of STJ which is valued at $8,978,223. St. Jude Medical makes up approx 2.89% of Cypress Capital Management’s portfolio.Gsa Capital Partners Llp reduced its stake in STJ by selling 5,662 shares or 40.32% in the most recent quarter. The Hedge Fund company now holds 8,380 shares of STJ which is valued at $703,082. St. Jude Medical makes up approx 0.04% of Gsa Capital Partners Llp’s portfolio.
St. Jude Medical opened for trading at $78.27 and hit $78.64 on the upside on Monday, eventually ending the session at $78.25, with a gain of 0.31% or 0.24 points. The heightened volatility saw the trading volume jump to 91,16,633 shares. Company has a market cap of $22,296 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.
Investors should note that on Aug 3, 2016, St. Jude Medical announced a cash dividend of $0.3100. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 28, 2016.
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 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).