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St. Jude Medical, Inc. (STJ)

  • Dec. 17, 2013, 8:12 AM
    • Leerink is out with some commentary on the MedTech space.
    • Investors should "focus on companies with growth acceleration and/or upside surprise potential independent of (or at least less dependent on) a macroeconomic recovery [or, alternatively,] a higher and increasing percentage of sales derived from end-markets exhibiting above-average growth," Leerink says.
    • Not surprisingly, the LVAD device market gets a mention, with Heartware (HTWR) recommended by name (remember, they just snapped up CircuLite which some think can compete with SSH's C-Pulse).
    • Other names mentioned by Leerink: Covidien (COV) for neurovascular and energy devices; Stryker (SYK) for neurovascular and robotics; St. Jude's Medical (STJ) and JNJ for atrial fibrillation; Intuitive Surgical (ISRG).
    • Thoratec (THOR) gets an LVAD mention as well, which is interesting considering Leerink's recent commentary on the NEJM manuscript which discussed possible thrombus formation with the HeartMate II.
    | Dec. 17, 2013, 8:12 AM | 2 Comments
  • Dec. 16, 2013, 9:49 AM
    • Jazz Pharmaceuticals (JAZZ -2%) cut to Neutral from Buy at Goldman. Price target is $123.
    • Aveo Pharmaceuticals (AVEO -3.5%) cut to Underperform from Sector Perform at RBC. Price target is $2.
    • Centene (CNC +1.5%) upgraded to Positive from Neutral at Susquehanna. Price target is $68.
    • St. Jude Medical (STJ +2.4%) upgraded to Outperform from Market Perform at BMO. Price target is $66.
    • Evogene (EVGN -3.4%) initiated at Outperform at Oppenheimer. Price target is $26.
    • Impax Labs (IPXL +0.9%started at Buy at Goldman. Price target is $29.
    | Dec. 16, 2013, 9:49 AM | Comment!
  • Dec. 13, 2013, 11:13 AM
    • Little-noticed from earlier this week, but worth mentioning: Medtronic (MDT) on Monday announced the first human implant of the world's smallest pacemaker, the Micra Transcatheter Pacing System.
    • One-tenth the size of a conventional pacemaker, the unit was installed not with surgery, but directly into the heart with a catheter inserted in the femoral vein.
    • " Once positioned, the pacemaker is securely attached to the heart wall and can be repositioned if needed,"  says the company.
    • The race begins: In October, St. Jude Medical (STJ) purchased Nanostim, a private manufacturer of a similar device. Nanostim's offering is being readied for European markets, but has not yet won formal FDA approval, though it has been given additional approval through an exemption for "investigational" devices.
    • Medtronic's unit has been granted investigational status worldwide.
    • Press release
    | Dec. 13, 2013, 11:13 AM | 1 Comment
  • Dec. 10, 2013, 9:24 AM
    • St. Jude Medical's (STJ) board authorizes $700M in buybacks funded from cash on hand "as well as other sources of available liquidity." (PR)
    | Dec. 10, 2013, 9:24 AM | Comment!
  • Dec. 9, 2013, 4:36 PM
    • St. Jude Medical, Inc. (STJ) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 1.69%
    • Payable Jan 31; for shareholders of record Dec. 31; ex-div Dec. 27.
    | Dec. 9, 2013, 4:36 PM | Comment!
  • Nov. 5, 2013, 2:54 PM
    • Bernstein downgrades St. Jude Medical (STJ -2.6%) to Market Perform from Outperform.
    • Analyst Derrick Sung still likes STJ's position in the CRM market, but with the stock up 60% YTD, doesn't see much in the way of multiple expansion going forward.
    • Specifically, Sung notes that the main components of the outperform thesis ("a lifting of the Riata/Durata overhang, a recovery in the ICD markets, and a reincarnation of the CardioMEMS opportunity") have "played out."
    | Nov. 5, 2013, 2:54 PM | Comment!
  • Oct. 16, 2013, 7:52 AM
    • "Our Q3 results demonstrate that we are successfully implementing our program to accelerate sales growth on a sustainable basis," St. Jude Medical (STJ) CEO Daniel Starks says, regarding the company's MRQ performance.
    • Stripping out currency impact, STJ's Q3 sales grew 3% Y/Y.
    • On a segment-by-segment basis (currency neutral): CRM sales were essentially flat at $682M, AF sales rose 7% to $235M, cardiovascular sales jumped 4% to $317M, and neuromodulationsales were up around 3% to $104M.
    • Outlook: Q4 EPS of $0.95-0.97 on revenue of $1.315B-1.395B versus consensus of $0.96/share on sales of $1.39B. For the full year: EPS of $3.72-3.74 on sales of $5.394-5.474B against consensus of $3.72/share and revenue of $5.45B. (PR)
    | Oct. 16, 2013, 7:52 AM | Comment!
  • Oct. 16, 2013, 7:32 AM
    • St. Jude Medical (STJ): Q3 EPS of $0.90 beats by $0.01.
    • Revenue of $1.34B (+1% Y/Y) beats by $0.02B. (PR)
    | Oct. 16, 2013, 7:32 AM | Comment!
  • Oct. 16, 2013, 12:05 AM
  • Oct. 15, 2013, 5:30 PM
  • Oct. 14, 2013, 7:56 AM
    • Cowen upgrades St. Jude Medical (STJ) to Market Perform from Underperform.
    • Price target is $53.
    • Earlier: STJ completes Nanostim acquisition.
    | Oct. 14, 2013, 7:56 AM | Comment!
  • Oct. 14, 2013, 7:11 AM
    • St. Jude Medical (STJ) has completed the acquisition of Nanostim, the developer of the world's only wireless pacemakers, for $123.5M upfront and a further $65M based on regulatory and sales goals.
    • St. Jude expects to soon introduce the pacemaker in select European markets after it received the EU's CE approval.
    • St. Jude first invested in Nanostim in 2011 and said in February this year that it intended to acquire the company. (PR)
    | Oct. 14, 2013, 7:11 AM | Comment!
  • Oct. 10, 2013, 9:45 AM
    • An FDA advisory panel sent a mixed message yesterday about the CardioMEMS Champion HF Pressure Measurement System, sending shares of St. Jude Medical (STJ -2.5%), part owner of CardioMEMS, lower.
    • Champion HF is an implantable device provides that provides daily pulmonary artery pressure measurements to guide physicians in their treatment of patients with congestive heart failure.
    • One panel member said it was impossible for the members to tie the daily measurements of the pulmonary artery to a decrease in hospitalizations or other important clinical outcomes; “We couldn’t connect the dots."
    | Oct. 10, 2013, 9:45 AM | Comment!
  • Oct. 4, 2013, 1:46 PM
    • St. Jude Medical (STJ +3.4%) rises to an all-time high on heavy volume.
    • Briefing documents from the FDA regarding an advisory panel meeting for CardioMEMS' Champion Heart Failure Monitoring System seem to suggest the regulator is more likely to approve the device this time around — or at least that's RBC and Leerink's reading. (full briefing documents)
    • "We think there's a few clauses in the conclusion where the FDA reviewers portray subtle inclinations," RBC's Glenn Novarro says.
    • Meanwhile, Leerink's Danielle Antalffy is already looking forward to an STJ deal for CardioMEMS: "We estimate [Champion HF] can ultimately contribute an incremental $0.25-$0.50 in EPS." (IBD)
    | Oct. 4, 2013, 1:46 PM | Comment!
  • Aug. 29, 2013, 11:34 AM
    • St. Jude Medical (STJ +0.6%) says it received CE Mark approval of its next-generation EnligHTN Renal Denervation System for treating patients with drug-resistant, uncontrolled hypertension.
    • The system features an advanced generator that delivers simultaneous ablations via a multi-electrode catheter, reducing total ablation time by more than 80% in comparison to the first generation system, from approximately 24 minutes to four minutes.
    • The new system will be on display during the 2013 European Society of Cardiology meeting from August 31 to September 3.
    | Aug. 29, 2013, 11:34 AM | Comment!
  • Aug. 19, 2013, 8:32 AM
    • St. Jude Medical (STJ) has bought Swiss-based Endosense for an initial $170M and up to $161M in milestone payments.
    • Endosense develops TactiCath, which allows physicians to monitor the amount of force they apply to the heart wall during a catheter ablation procedure to remove or stop a faulty electrical pathway.
    • "Force sensing is a tremendous advancement in cardiac ablation that will potentially improve safety and efficacy, likely becoming a standard for all cardiac ablations," says Dr Vivek Reddy of Mount Sinai Hospital in New York. (PR)
    | Aug. 19, 2013, 8:32 AM | Comment!
Company Description
St Jude Medical Inc develops, manufactures and distributes cardiovascular medical devices for global cardiac rhythm management, cardiovascular, atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain.