Apr. 30, 2014, 6:41 PM
Apr. 16, 2014, 7:57 AM
- St. Jude Medical (STJ) Q1 net profit $249M vs $223M.
- Constant currency sales +4%.
- Sales breakdown: Cardiac Rhythm Management (CRM) +1% to $687M, with U.S. ICD sales +5%; Atrial Fibrillation (AF) +8% to $251M; Cardiovascular -1% to $326M; Neuromodulation flat at $99M.
- Outlook: Q2 adjusted EPS of $0.99-1.01 vs consensus of $1 and revenues of $1.38-1.46B vs $1.44B; FY EPS of $3.95-4.00 vs $4.30 and revenue of $5.61-5.76B vs $5.96B.
- St. Jude expects four new CRM product approvals in the U.S. to accelerate sales in H2. (PR)
Apr. 16, 2014, 7:32 AM| Comment!
Apr. 16, 2014, 12:05 AM
Apr. 15, 2014, 5:30 PM
Apr. 9, 2014, 4:44 PM
- Some leading U.S. and European cardiologists favor curbs on sales or an outright moratorium on renal denervation devices.
- After Medtronic's (MDT +0.7%) Simplicity clinical trial failed to meet its efficacy endpoint doctors question the continued use of the product to treat high blood pressure in patients who fail to gain enough of a benefit from drugs.
- The therapy is currently approved in more than 80 countries. Analysts believe the U.S. market would be $3B if and when the FDA approves a device for the indication.
- The renal denervation procedure uses a catheter to insert the device through the groin and into the kidney where it applies RF pulses to the renal arteries to damage the nerve endings in the vascular wall. Physicians believe these nerves contribute to elevated blood pressure.
- (BSX) (STJ)
Feb. 24, 2014, 8:20 AM
Feb. 10, 2014, 11:19 AM
- St. Jude Medical (STJ +3.2%) enjoys lots of positive chatter following Friday's analyst day.
- Stifel upgrades shares to Buy from Hold with a $75 price target, touting the company's pipeline that spans several businesses and targets new and existing markets; the firm is convinced STJ is poised to show steadily accelerating sales growth and expanding margins during the next 2-3 years, yielding above consensus top- and-bottom line numbers in the process.
- Morgan Stanley says end-market stability and pipeline catalysts into H2 2014 suggest acceleration across the next several quarters; it reiterates an Overweight rating and $75 target.
- BofA is out positive too, calling the stock a "best idea" and seeing several potential catalysts through the rest of 2014; the firm tags an $80 target price.
Jan. 22, 2014, 9:18 AM
- St. Jude (STJ +0.4%) net profit edges up to $123M from $120M last year.
- Unfavorable currency fluctuations hurt sales by $27M. On a constant-currency basis, net sales +6%.
- Sales breakdown: cardiac rhythm-management +3%; implantable cardiac defibrillator +5%; pacemakers +1%.
- Q1 adjusted EPS of $0.94-0.96 vs consensus of $0.95, and revenue of $1.28-1.36B vs $1.38B.
- FY adjusted EPS of $3.94-3.99 vs $3.98, and revenue of $5.6-5.75B vs $5.64B. (PR)
Jan. 22, 2014, 7:32 AM| Comment!
Jan. 22, 2014, 12:05 AM
Jan. 21, 2014, 5:30 PM
Jan. 13, 2014, 10:08 AM
- St. Jude (STJ +1.9%) estimates adjusted Q4 EPS of $0.97-0.99, with both ends of the range 2 cents above previous guidance. However, the figures exclude about $0.55 a share in charges, mainly related to restructuring and other corporate costs.
- St. Jude also expects revenue to have risen to $1.42B from $1.37B.
- Analysts project EPS of $0.96 and sales of $1.38B.
- Sales breakdown: Cardiac Rhythm Management +3% to $705M; Atrial Fibrillation +5% to $252M; Cardiovascular +4% to $350M; Neuromodulation +2% to $115M.
- St. Jude is due to give a presentation at the Annual JPMorgan Healthcare Conference in San Francisco at 11 PST. (PR)
Jan. 6, 2014, 2:09 PM
- McKesson (MCK -0.1%) upgraded to Strong Buy from Outperform at Raymond James.
- DaVita (DVA +0.4%) upgraded to Outperform from Market Perform at Raymond James.
- Idenix Pharmaceuticals (IDIX -0.3%) upgraded to Buy from Neutral at UBS.
- Abbott Labs (ABT +1.5%) upgraded to Overweight from Equalweight at Morgan Stanley.
- Medtronic (MDT +2%) upgraded to Overweight from Neutral at JPMorgan. Price target is $69.
- Vertex Pharmaceuticals (VRTX +2.5%) upgraded to Buy from Neutral at UBS.
- Ocera Therapeutics (OCRX +2.7%) upgraded to Outperform from Market Perform at BMO.
- Boston Scientific (BSX +3.2%) upgraded to Overweight from Equalweight at Morgan Stanley.
- Exelixis (EXEL +4.6%) upgraded to Overweight from Neutral at Piper.
- St. Jude Medical (STJ +3.8%) upgraded to Overweight from Equalweight at Morgan Stanley.
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. 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.
STJ vs. ETF Alternatives
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.
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