Company Update (NYSE:STJ): INVESTOR ALERT: Levi & Korsinsky, LLP Announces Investigation as to Whether the Sale of St. Jude Medical Inc. for Cash & Stock to Abbott is Fair to Shareholders

[PR Newswire] – NEW YORK, May 2, 2016 /PRNewswire/ — The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased St. Jude Medical Inc. (NYSE: STJ) stock prior to April … Read more on this. St. Jude Medical Inc. (STJ) , with a current value of $21.69B, began trading this morning at $76.37. Looking at today’s market, STJ one day range is $75.99 to $76.70 with a trailing 52-week range being $48.83 to $80.84. STJ shares are currently priced at 18.77x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.45x earnings multiple. And for income investors, the company pays shareholders $1.24 per share annually in dividends, yielding 1.63%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $1.06 per share, which would be $0.03 better than the year-ago quarter and a $0.04 sequential increase. What we find to be interesting is that the full-year EPS estimate of $4.06 is a $0.12 improvement when compared to the previous year’s annual results. 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, Morgan Stanley downgraded STJ from Overweight to Equal-Weight (May 2, 2016). Previously, Needham downgraded STJ from Buy to Hold. The average price target for STJ shares by the analysts covering it is $68.83, which is 9.87% below where the stock opened. See more in (NYSE:STJ) Similar Articles: Market Update (NYSE:STJ): Ryan & Maniskas, LLP Announces Investigation of St. Jude Medical Inc. Company Update (NYSE:STJ): St. Jude Medical (STJ) ALERT: Johnson & Weaver, LLP Launches an Investigation into the Fairness of Price and Process in Proposed Sale of St. Jude Medical, Inc.; Are Shareholders Getting a Fair Price? Stock Update: St. Jude Medical Inc (NYSE:STJ) – St. Jude Medical Announces Launch of OPTIS Mobile System in Europe and Japan