St. Jude Medical (STJ) is Downgraded by Morgan Stanley to Equal-Weight

St. Jude Medical (STJ) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 2, 2016.

Many Wall Street Analysts have commented on St. Jude Medical. St. Jude Medical was Downgraded by Needham to ” Hold” on Apr 29, 2016. St. Jude Medical was Downgraded by Piper Jaffray to ” Neutral” on Apr 28, 2016. St. Jude Medical was Initiated by Nomura to “Buy” on Mar 17, 2016.

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.

St. Jude Medical opened for trading at $60.34 and hit $62.12 on the upside on Wednesday, eventually ending the session at $61.95, with a gain of 2.94% or 1.77 points. The heightened volatility saw the trading volume jump to 29,75,847 shares. Company has a market cap of $17,570 M.

In a different news, on Feb 9, 2016, Jeff Fecho (VP, Global Quality) sold 10,408 shares at $51.71 per share price. According to the SEC, on Dec 22, 2015, John C Heinmiller (Executive Vice President) sold 8,009 shares at $61.16 per share price. On Dec 22, 2015, Jeff Dallager (VP and Corporate Controller) sold 501 shares at $60.94 per share price, according to the Form-4 filing with the securities and exchange commission.

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).

St. Jude Medical

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