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Fidelity Reduces Stake in St. Paul, Minn.-Based Medical Products Maker.
Knight Ridder/Tribune Business News, February, 1999 by Padley, Karen
Knight Ridder/Tribune Business News
Feb. 17 -- St. Jude Medical Inc.'s largest shareholder for many years has quietly slipped to No. 3.
Fidelity Management and Research Corp., the huge Boston-based mutual fund company, owned 5.25 percent or 4.4 million St. Jude shares at year-end, according to papers filed last week at the Securities and Exchange Commission. That's down from 11.3 percent or 10.4 million a year earlier.
At the same time, two other major investors have increased their stakes. Brinson Partners Inc. has become the largest St. Jude investor with 7.3 percent while Iridian Asset Management LLC remains No. 2 with 5.7 percent.
Fidelity declined to comment, citing company policy. It is one of several major shareholders to...
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