Fulton Bank lowered its stake in St. Jude Medical, Inc. (NYSE:STJ) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The hedge fund owned 9,278 shares of the medical technology company’s stock after selling 1,094 shares during the period. Fulton Bank’s holdings in St. Jude Medical were worth $574,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of STJ. Harvest Management acquired a new position in shares of St. Jude Medical during the third quarter worth approximately $315,000. Ken Stern & Associates boosted its position in shares of St. Jude Medical by 21.5% in the third quarter. Ken Stern & Associates now owns 5,323 shares of the medical technology company’s stock worth $336,000 after buying an additional 943 shares during the last quarter. Jennison Associates acquired a new position in shares of St. Jude Medical during the third quarter worth approximately $617,000. ING Groep boosted its position in shares of St. Jude Medical by 313.1% in the third quarter. ING Groep now owns 48,406 shares of the medical technology company’s stock worth $3,052,000 after buying an additional 36,688 shares during the last quarter. Finally, KBC Group boosted its position in shares of St. Jude Medical by 198.9% in the third quarter. KBC Group now owns 66,535 shares of the medical technology company’s stock worth $4,198,000 after buying an additional 44,274 shares during the last quarter.

St. Jude Medical, Inc. (NYSE:STJ) traded up 0.21% on Friday, reaching $52.86. 4,148,135 shares of the company’s stock were exchanged. The stock has a market capitalization of $14.94 billion and a P/E ratio of 15.02. St. Jude Medical, Inc. has a 1-year low of $52.17 and a 1-year high of $80.84. The firm’s 50 day moving average is $58.58 and its 200 day moving average is $65.46.

St. Jude Medical (NYSE:STJ) last posted its earnings results on Wednesday, January 27th. The medical technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The company earned $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. Analysts expect that St. Jude Medical, Inc. will post $4.00 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Thursday, December 31st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Tuesday, December 29th. This is an increase from St. Jude Medical’s previous quarterly dividend of $0.23.

STJ has been the topic of a number of recent research reports. Deutsche Bank cut their target price on shares of St. Jude Medical from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Friday, January 15th. Canaccord Genuity reaffirmed a “sell” rating and issued a $64.00 target price on shares of St. Jude Medical in a report on Monday, October 5th. Wells Fargo cut shares of St. Jude Medical from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 19th. BMO Capital Markets cut their target price on shares of St. Jude Medical from $81.00 to $73.00 in a report on Friday, October 9th. Finally, Stifel Nicolaus cut shares of St. Jude Medical from a “buy” rating to a “hold” rating in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $73.77.

In other news, VP Jeff Dallager sold 501 shares of the firm’s stock in a transaction on Monday, December 21st. The stock was sold at an average price of $60.94, for a total transaction of $30,530.94. Following the transaction, the vice president now directly owns 6,081 shares of the company’s stock, valued at $370,576.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John C. Heinmiller sold 8,009 shares of the firm’s stock in a transaction on Friday, December 18th. The shares were sold at an average price of $61.16, for a total value of $489,830.44. Following the transaction, the executive vice president now directly owns 237,211 shares in the company, valued at $14,507,824.76. The disclosure for this sale can be found here.

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 (NYSE:STJ) 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).

12 Month Chart for NYSE:STJ

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