St. Jude Medical (STJ +2%) says its received European approval for its Portico heart valve...

|About: St. Jude Medical, Inc. (STJ)|By:, SA News Editor

St. Jude Medical (STJ +2%) says its received European approval for its Portico heart valve replacement device. The approval gives STJ access to a burgeoning market for the devices, and the news gives a much-needed lift to the stock after a string of negative headlines in recent months has driven the stock down near 52-week lows. Since October alone, STJ has shaved nearly 17% off its market cap.