<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
------
St. Jude Medical Inc.
----------------------------------
(Name of Issuer)
Common Stock
----------------------------------
(Title of Class of Securities)
79084910
----------------------------------
(CUSIP Number)
AS OF 7/31/96
Check the following box if a fee is being paid with this statement /x/. (A
fee is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
CUSIP No. 79084910 13G Page 2 of 8 Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Provident Investment Counsel, Inc.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization Massachusetts
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting
Beneficially Power 104300
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting
Person With Power 0
--------------------------------------------------
(7) Sole Dispositive
Power 113650
--------------------------------------------------
(8) Shared Dispositive
Power 0
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person 113650
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9) .2%
- -------------------------------------------------------------------------------
(12) Type of Reporting Person* CO,IA
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 79084910 13G Page 3 of 8 Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Robert M. Kommerstad
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Mr. Kommerstad is no
longer a reporting person. See Item 2.)
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization U.S.A.
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting
Beneficially Power 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting
Person With Power 0
--------------------------------------------------
(7) Sole Dispositive
Power 0
--------------------------------------------------
(8) Shared Dispositive
Power 0
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
0 IA owns 113650 shares of common stock. Mr. Kommerstad is no longer a
reporting person.
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9) 0%
- -------------------------------------------------------------------------------
(12) Type of Reporting Person* Mr. Kommerstad is no longer a reporting
person. See item 2.
- -------------------------------------------------------------------------------
ITEM 1(a). NAME OF ISSUER St. Jude Medical Inc.
<PAGE>
Page 4 of 8 Pages
--- ---
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
One Lillehei Plaza, St. Paul, MN 55117
- -------------------------------------------------------------------------------
ITEM 2(a). NAME OF PERSON(s) FILING
This statement is being filed by (i) Provident Investment Counsel
Inc., a Massachusetts corporation and a registered investment advisor ("IA), and
(ii) Robert M. Kommerstad, a shareholder of IA's predecessor, Provident
Investment Counsel, a California corporation which was formerly a registered
investment advisor ("Former IA"). IA is continuing the business of Former IA,
and is a wholly-owned subsidiary of United Asset Management Holdings, which is
wholly owned by United Asset Management Corporation ("UAM"). Pursuant to an
Acquisition Agreement by and among UAM, Former IA and IA, IA acquired
substantially all of the assets of former IA on February 15, 1995. (the
"Acquisition").
IA's beneficial ownership of the Common Stock is direct as a result
of IA's discretionary authority to buy, sell, and vote shares of such Common
Stock for its investment advisory clients. Mr. Kommerstad, as a result of the
Acquisition, no longer has beneficial ownership of any of the common stock, and
is no longer a reporting person.
- -------------------------------------------------------------------------------
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
IA's Principal Business Office is located at:
300 North Lake Avenue, Pasadena, Ca 91101-4022.
- -------------------------------------------------------------------------------
ITEM 2(c). CITIZENSHIP
IA is a Massachusetts corporation.
- -------------------------------------------------------------------------------
ITEM 2(d). TITLE OF CLASS OF SECURITIES
Class A Common Stock
- -------------------------------------------------------------------------------
<PAGE>
Page 5 of 8 Pages
--- ---
ITEM 2(e). CUSIP NUMBER
79084910
- -------------------------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b),
CHECK WHETHER THE PERSON FILING IS A
(a) / / Broker or Dealer registered under Section 15 of the Act
(b) / / Bank as defined in section 3(a)(6) of the Act
(c) / / Insurance Company as defined in section 3(a)(19) of the Act
(d) / / Investment Company registered under section 8 of the Investment
Company Act
(e) /x/ Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) / / Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F)
(g) / / Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G)
(Note: See Item 7)
(h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
<PAGE>
Page 6 of 8 Pages
--- ---
ITEM 4. OWNERSHIP
(a) AMOUNT BENEFICIALLY OWNED:
IA directly beneficially owns 113650 shares of Common Stock
---------------------------------------------------------------------------
(b) PERCENT OF CLASS: .2%
---------------------------------------------------------------------------
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) sole power to vote or to direct the vote
IA has the power to vote 104300 shares. No other person has
the power to vote such shares.
IA has no power to vote 9350 shares for which it has
dispositive power.
-----------------------------------------------------------------
(ii) shared power to vote or to direct the vote: 0
-----------------------------------------------------------------
(iii) sole power to dispose or to direct the disposition of:
<PAGE>
Page 7 of 8 Pages
--- ---
IA has the power to dispose all 113650 shares for which it
has direct beneficial ownership. It does not share this
power with any other person.
-----------------------------------------------------------------
(iv) shared power to dispose or to direct the disposition of: 0
-----------------------------------------------------------------
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
As a result of the Acquisition, Mr. Kommerstad no longer owns any of
the common stock. See Item 2 above. IA's beneficial ownership is
described in Item 4 above.
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following. / /
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
IA, a registered investment advisor, has the right or the power to
direct the receipt of dividends from Common Stock, and to direct the
receipt of proceeds from the sale of Common Stock to IA's investment
advisory client of IA owns more than 5% of the Common Stock.
- -------------------------------------------------------------------------------
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
- -------------------------------------------------------------------------------
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
- -------------------------------------------------------------------------------
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
- -------------------------------------------------------------------------------
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
<PAGE>
Page 8 of 8 Pages
--- ---
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
August 12, 1996
PROVIDENT INVESTMENT COUNSEL, INC.
By: -------------------------
Thad Brown
Chief Financial Officer
and Senior Vice-President
