Company Update (NYSE:STJ): St. Jude Medical Announces Dividend for Second Quarter of Fiscal Year 2016

[Business Wire] – St. Jude Medical, Inc. , a global medical device company, today announced that its board of directors declared a second quarter dividend of $0.31 per common share. This dividend amount is equal to the dividend paid during the first quarter of 2016 and brings the total dividend declared for the year to $0.62 per common share. Read more on this. St. Jude Medical Inc. (STJ) , valued at $21.45B, started the session at $75.50. Looking at today’s market, STJ one day range is $75.30 to $75.85 and has traded between $48.83 and $80.84 over the past year. St. Jude Medical (STJ) shares are currently priced at 18.68x 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 those looking to make a return holding the stock, 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 better than last year. 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. In terms of ratings, Credit Suisse downgraded STJ from Outperform to Neutral (May 3, 2016). Previously, Morgan Stanley downgraded STJ from Overweight to Equal-Weight. The average price target for STJ shares is $70.22, which is 6.99% below where the stock opened this morning. See more in (NYSE:STJ) Similar Articles: Company Update: St. Jude Medical Inc (NYSE:STJ) – St. Jude Medical Announces the European Launch of the Trifecta Surgical Valve with Glide Technology to Improve Options for Patients in Need of Aortic Valve Replacement Stock Update (NYSE:STJ): St. Jude Medical Announces First Quarter 2016 Earnings Conference Call Stock Update (NYSE:STJ): St. Jude Medical Announces Fourth Quarter and Full-Year 2015 Earnings Conference Call