St. Jude Medical (STJ) has risen sharply, recording gains of 3.91% in the past 4 weeks. However, the stock has corrected -0.31% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.85% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.36% and the 50-Day Moving Average is 4.85%. St. Jude Medical (NYSE:STJ): On Fridays trading session , Opening price of the stock was $83.55 with an intraday high of $83.69. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $83.18. However, the stock managed to close at $83.64, a loss of 0.04% for the day. On the previous day, the stock had closed at $83.67. The total traded volume of the day was 1,420,454 shares.
The company Insiders own 4.8% of St. Jude Medical shares according to the proxy statements. Institutional Investors own 81.46% of St. Jude Medical shares. Also, Equity analysts at the Brokerage firm Wedbush downgrades its rating on St. Jude Medical (NYSE:STJ). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The Analysts at Wedbush raises the price target from $70 per share to $84 per share. The rating by the firm was issued on July 15, 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).