Large Inflow of Money Detected in St. Jude Medical

St. Jude Medical (STJ) : Investors lapped up stocks on upticks to the tune of $27.36 million in the Tuesdays trading session. The trading value on downticks was comparatively at $20.36 million and the uptick to downtick ratio of 1.34 indicates continuous buying by the bulls. The net money flow into the stock was $6.99 million. The block trades were dominated by the bulls with a healthy 2.76, uptick to downtick ratio. Only $3.89 million worth of trades exchanged hands on downticks showing the reluctance of the large traders to part with their holdings. Upticks saw transactions worth $10.74 clearly indicating buying by large investors. The total money flow for block trades stood at $6.85 million, which is a positive for the stock in the long-term. St. Jude Medical (STJ) fell $0.08 during the day at $78.17, a drop of -0.1% over the previous days close. However, for the week, the stock is 0.21%, compared to the previous week.


Also, Wedbush downgrades its rating on St. Jude Medical (NYSE:STJ). The global brokerage major raises the current price target from $70 per share to $84 per share. Analysts at the Wedbush have a current rating of Neutral on the shares. The shares were previously rated Outperform. The rating by the firm was issued on July 15, 2016.

St. Jude Medical Inc. has lost 4.98% in the last five trading days and dropped 6.09% in the last 4 weeks. St. Jude Medical Inc. is up 0.87% in the last 3-month period. Year-to-Date the stock performance stands at 28.55%.

St. Jude Medical (NYSE:STJ): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $78.25 and $77.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $79.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $78.63, notching a gain of 0.49% for the day. The total traded volume was 9,929,214 . The stock had closed at $78.25 on the previous day.

In a related news,The officer (VP, Global Quality) of St Jude Medical Inc, Fecho Jeff sold 10,408 shares at $51.71 on February 5, 2016. The Insider selling transaction had a total value worth of $538,198. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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