St. Jude Medical (STJ) is active in the post session after the FDA classifies the company's voluntary medical device recall of its Riata and Riata ST Silicone Defibrillation Leads as a Class I Recall. A Class I Recall indicates potential risk of serious injury or patient death if the affected devices malfunction. The company stopped distributing the leads in December 2010, but an estimated 79K units remain active in patients in the U.S. Shares have recovered after initially selling off 3% on the news.
Deutsche Bank says stock up on shares of St. Jude Medical (STJ -1.6%) on weakness resulting from yesterday's FDA panel vote against a heart sensor. DB is among those surprised by the vote despite successful study data, but notes STJ has plenty in its pipeline, including three recently approved products and perhaps two more by the end of 2012.
St. Jude Medical (STJ) -2.3% premarket after an FDA panel votes not to recommend its CardioMEMS implantable heart device for treating heart failure. Six of 10 members said they could not determine whether the potential benefits of the wireless pressure sensor and its supporting computer monitors outweighed potential risks.
Credit Suisse calls Friday's selloff in hospital and medical-device companies amid concerns about prepayment audits overdone, and recommends buying the entire space on weakness: Universal Health (UHS +5.1%), Tenet Healthcare (THC +10.8%), St. Jude Medical (STJ +4.2%), Health Management Associates (HMA +7.1%), Community Health (CYH +4%).
St. Jude Medical (STJ) receives FDA approval of its Unify Quadra cardiac resynchronization therapy defibrillator and Quartet Left Ventricular Quadripolar Pacing Lead, a defibrillator system that allows doctors more flexibility when implanting the device. Shares +0.6% AH.
St. Jude (STJ -5.1%) shares tumbled after a Bernstein survey showed high levels of doctor concerns about insulation failures of the medical device maker's Riata defibrillation leads, which were discontinued last year. Almost half of doctors surveyed also worried that St. Jude’s Durata lead, which has remained on the market, could have the same problem as Riata.
St. Jude Medical (STJ +7%) ramps higher after its Q3 beats across the board. Profits jumped 8.7% Y/Y on better international sales growth and a currency boost, offsetting a soft U.S. market for the company's heart-rhythm devices.
Fari Hamzei+ FollowFollowing- Unfollow|Send Message3 Aug 2009
St Jude Medical (STJ) Sept Credit Spreads: SELL to Open Sept 40 Calls (STJ IH) and BUY to Open Sept 45 Calls (STI JI) at $0.80 or better
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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.