Mizuho Downgrades St. Jude On Market Share Concerns (STJ)

By Dividend.com Staff,

Shutterstock photo

Mizuho downgraded St. Jude Medical ( STJ ) to Neutral on Wednesday, and issued a new price target of $45 per share. Analysts expressed concern that the company may lose market share in coming quarters.

Headquartered in St. Paul, Minnesota, St. Jude Medical develops medical technology and services designed for treating cardiac and neurological patients. The stock has been showing strength so far in 2012, rising about 25% year-to-date.

The downgrade on the heels of an upgrade of STJ from Wells Fargo, which recently upgraded from Market Perform to Outperform. Wells Fargo analysts cited a stabilizing ICD market and a weaker dollar in its decision to upgrade.

Shares of ( STJ ) closed just below the $43 level on Tuesday, indicating limited upside to the revised Mizuho target.

The Bottom Line
Shares of St.Jude Medical ( STJ ) have a 2.14% dividend yield, based on last night's closing stock price of $42.98. The stock has technical support in the $38-$40 price area. If the shares can firm up, we see overhead resistance around the $45-$47 price levels.

St. Jude Medical ( STJ ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: STJ

More from Dividend.com



Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com