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 22.42% during the most recent quarter end. The investment management company now holds a total of 66,673 shares of St. Jude Medical which is valued at $5,447,184 after selling 19,265 shares in St. Jude Medical , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.St. Jude Medical makes up approximately 5.99% of Perkins Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Rockefeller Financial Services Inc reduced its stake in STJ by selling 38,705 shares or 2.62% in the most recent quarter. The Hedge Fund company now holds 1,436,667 shares of STJ which is valued at $117,375,694. St. Jude Medical makes up approx 2.26% of Rockefeller Financial Services Inc’s portfolio. Coastline Trust Co added STJ to its portfolio by purchasing 4,030 company shares during the most recent quarter which is valued at $327,397. St. Jude Medical makes up approx 0.06% of Coastline Trust Co’s portfolio. Cribstone Capital Management added STJ to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $24,372. St. Jude Medical makes up approx 0.02% of Cribstone Capital Management’s portfolio.Next Financial Group Inc boosted its stake in STJ in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 4,550 shares of St. Jude Medical which is valued at $366,639. St. Jude Medical makes up approx 0.11% of Next Financial Group Inc’s portfolio.

St. Jude Medical opened for trading at $80.64 and hit $81.41 on the upside on Wednesday, eventually ending the session at $81.24, with a gain of 1.28% or 1.03 points. The heightened volatility saw the trading volume jump to 17,10,260 shares. Company has a market cap of $23,095 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.

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 was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on May 10, 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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