Perkins Capital Management Inc Lowers stake in St. Jude Medical (STJ)

St. Jude Medical (STJ) : Perkins Capital Management Inc reduced its stake in St. Jude Medical by 4.71% during the most recent quarter end. The investment management company now holds a total of 85,938 shares of St. Jude Medical which is valued at $5,213,858 after selling 4,250 shares in St. Jude Medical , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.St. Jude Medical makes up approximately 6.21% of Perkins Capital Management Inc’s portfolio.

St. Jude Medical opened for trading at $60.63 and hit $60.95 on the upside on Friday, eventually ending the session at $60.67, with a gain of 0.31% or 0.19 points. The heightened volatility saw the trading volume jump to 19,90,915 shares. Company has a market cap of $17,207 M.

Other Hedge Funds, Including , Murphy Capital Management Inc boosted its stake in STJ in the latest quarter, The investment management firm added 1,848 additional shares and now holds a total of 17,773 shares of St. Jude Medical which is valued at $1,078,288. St. Jude Medical makes up approx 0.17% of Murphy Capital Management Inc’s portfolio. Gavekal Capital sold out all of its stake in STJ during the most recent quarter. The investment firm sold 112,312 shares of STJ which is valued $6,590,468.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in STJ in the latest quarter, The investment management firm added 8,173 additional shares and now holds a total of 64,882 shares of St. Jude Medical which is valued at $3,807,276. St. Jude Medical makes up approx 0.09% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Proficio Capital Partners reduced its stake in STJ by selling 54 shares or 83.08% in the most recent quarter. The Hedge Fund company now holds 11 shares of STJ which is valued at $618.Curbstone Financial Management Corp boosted its stake in STJ in the latest quarter, The investment management firm added 1,350 additional shares and now holds a total of 17,850 shares of St. Jude Medical which is valued at $1,003,349. St. Jude Medical makes up approx 0.34% of Curbstone Financial Management Corp’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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