St. Jude Medical (STJ) : Traders are bullish on St. Jude Medical (STJ) as it has outperformed the S&P 500 by a wide margin of 2.69% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.71%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.64% in the last 1 week, and is up 6.14% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.02% and the 50-Day Moving Average is 5.85%. St. Jude Medical Inc. is up 9.42% in the last 3-month period. Year-to-Date the stock performance stands at 35.76%.
St. Jude Medical (NYSE:STJ): stock turned positive on Friday. Though the stock opened at $82.69, the bulls momentum made the stock top out at $83.475 level for the day. The stock recorded a low of $82.59 and closed the trading day at $83.04, in the green by 0.46%. The total traded volume for the day was 2,096,604. The stock had closed at $82.66 in the previous days trading.
Also, In the latest statement by the brokerage house, Wedbush downgrades its outlook on St. Jude Medical (NYSE:STJ). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Outperform. The brokerage firm 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).