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St. Jude Medical, Inc. (STJ)

- NYSE
  • 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%.
    • Guidance:
    • 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)
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  • Jan. 22, 2014, 7:32 AM
    • St. Jude Medical, Inc. (STJ): Q4 EPS of $0.99 beats by $0.01.
    • Revenue of $1.42B (+3.6% Y/Y) beats by $40M.
    • Press Release
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  • 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)
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  • 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.
    | 3 Comments
  • 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.
    | 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.
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  • 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
    | 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)
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  • 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.
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  • 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."
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  • 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)
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  • 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)
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  • Oct. 16, 2013, 12:05 AM
  • Oct. 15, 2013, 5:30 PM
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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.