Schwartz Investment Counsel Inc buys $43.6 Million stake in St. Jude Medical (STJ)

St. Jude Medical (STJ) : Schwartz Investment Counsel Inc scooped up 99,800 additional shares in St. Jude Medical during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 576,000 shares of St. Jude Medical which is valued at $43.6 Million.St. Jude Medical makes up approximately 3.26% of Schwartz Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in STJ by selling 258,019 shares or 51.08% in the most recent quarter. The Hedge Fund company now holds 247,066 shares of STJ which is valued at $18.7 Million. St. Jude Medical makes up approx 0.16% of Cornerstone Capital Management Holdings.’s portfolio.Tiaa Cref Investment Management reduced its stake in STJ by selling 59,775 shares or 4.4% in the most recent quarter. The Hedge Fund company now holds 1,297,431 shares of STJ which is valued at $97.4 Million. St. Jude Medical makes up approx 0.07% of Tiaa Cref Investment Management’s portfolio.South Dakota Investment Council boosted its stake in STJ in the latest quarter, The investment management firm added 19,400 additional shares and now holds a total of 55,000 shares of St. Jude Medical which is valued at $4.1 Million. St. Jude Medical makes up approx 0.09% of South Dakota Investment Council’s portfolio.Aperio Group boosted its stake in STJ in the latest quarter, The investment management firm added 8,389 additional shares and now holds a total of 78,802 shares of St. Jude Medical which is valued at $6 Million. St. Jude Medical makes up approx 0.05% of Aperio Group’s portfolio.

St. Jude Medical opened for trading at $75.84 and hit $76.55 on the upside on Monday, eventually ending the session at $76.4, with a gain of 0.87% or 0.66 points. The heightened volatility saw the trading volume jump to 37,85,669 shares. Company has a market cap of $21,719 M.

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.

Investors should note that on May 4, 2016, St. Jude Medical announced a cash dividend of $0.3100. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 29, 2016.

Many Wall Street Analysts have commented on St. Jude Medical. St. Jude Medical was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on May 10, 2016. St. Jude Medical was Downgraded by Credit Suisse to ” Neutral” on May 3, 2016. St. Jude Medical was Downgraded by Morgan Stanley to ” Equal-Weight” on May 2, 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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