Market Update: St. Jude Medical Inc (NYSE:STJ) – St. Jude Medical Announces MultiPoint Pacing IDE Study Results During Late-Breaker at Heart Rhythm 2016

[Business Wire] – St. Jude Medical, Inc. , a global medical device company, announced presentation of the MultiPoint Pacing Investigational device exemption Clinical Study results during a late-breaking clinical trial session at the Heart Rhythm Society’s 37th annual scientific sessions. Read more on this. St. Jude Medical Inc. (STJ) , with a current market cap of $21.43B, opened at $75.40. A quick look at the market, the company’s stock traded between $75.40 and $76.06 and has traded between $48.83 and $80.84 over the past year. STJ shares are currently priced at 18.56x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.45x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.24 per share annually in dividends, yielding 1.63%. According to a consensus of 21 analysts, the earnings estimate of $1.06 per share would be $0.03 better than the year-ago quarter and a $0.04 sequential increase. The full-year EPS estimate is $4.06 which would be a $0.12 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.55 Billion. If realized, that would be a 9.93% increase over the year-ago quarter. More recently, Credit Suisse downgraded STJ from Outperform to Neutral (May 3, 2016). Previously, Morgan Stanley downgraded STJ from Overweight to Equal-Weight. Given all the information above, we should disclose to readers that the average price target is $70.22, which is 6.87% below than it opened this morning. See more in (NYSE:STJ) Similar Articles: Stock Update: St. Jude Medical Inc (NYSE:STJ) – St. Jude Medical CardioMEMS HF System Prompts Changes That Improve Heart Failure Management and Reduce Hospitalizations Company Update (NYSE:STJ): St. Jude Medical Receives FDA Approval for Industry’s First MultiPoint Pacing Technology Stock Update: St. Jude Medical Inc (NYSE:STJ) – St. Jude Medical Announces Launch of OPTIS Mobile System in Europe and Japan