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St. Jude Medical, Inc. (STJ)

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  • Feb. 15, 2013, 2:10 PM
    St. Jude Medical (STJ -3.4%) has been working overtime to convince the Street that its Durata heart device leads are safe, but Cowen doesn't take the bait, downgrading the stock to Market Underperform over concerns that the new heart wire is no different from the ones already taken off the market. The firm cites a "significant risk" of a recall, which would " meaningfully damage" its defibrillator and pacemaker business.
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  • Feb. 13, 2013, 9:42 AM
    St. Jude Medical (STJ +0.5%) has issued a voluntary Class 1 recall of its Amplatzer TorqVue FX Delivery System, which is used for hole in the heart surgery, after the company discovered that the device could fracture in a number of cases, causing serious damage and even death. However, no serious injuries have occurred.
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  • Jan. 23, 2013, 9:04 AM
    More on St. Jude Medical (STJ +0.8%) Q4: net profit -4% to $120M despite cutting SG&A costs by 18% and R&D spending by 11%. Cardiac rhythm management sales -6% to $682M, atrial fibrillation products +10% to $239M, total cardiovascular sales flat at $338M. Expects Q1 EPS of $0.91-0.93 vs consensus of $0.89 and 2013 EPS of $3.68-3.73 vs $3.62.
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  • Jan. 23, 2013, 7:32 AM
    St. Jude Medical (STJ): Q4 EPS of $0.92 beats by $0.03. Revenue of $1.37B (-2% Y/Y) in-line. (PR)
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  • Jan. 23, 2013, 12:05 AM
    Notable earnings before Wednesday’s open: ABBV, ABT, APD, ATI, BHI, CHKP, COH, DGX, FNFG, GD, LCC, MCD, MSI, NVS, PX, RES, SAP, STJ, TEL, TXT, UTX, WLP
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  • Jan. 22, 2013, 5:30 PM
    Notable earnings before Wednesday’s open: ABBV, ABT, APD, ATI, BHI, CHKP, COH, DGX, FNFG, GD, LCC, MCD, MSI, NVS, PX, RES, SAP, STJ, TEL, TXT, UTX, WLP
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  • Jan. 16, 2013, 10:02 AM
    The FDA approves St Jude's (STJ -1.9%) next-generation Merlin.net Patient Care Network (PCN), a system for cardiac patients with implanted medical devices that allows doctors to monitor them via the Internet and "detect heart failure symptoms earlier than ever before." Information is sent to doctors via the "Merlin@home" Transmitter and a patient's Internet connection. (PR)
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  • Jan. 15, 2013, 2:22 PM
    Boston Scientific (BSX +2.5%) hits a 16-month high today after Credit Suisse upped the stock to Outperform, citing a better top-line and improved visibility. On those catalysts, the firm reduces the valuation discount it thinks the stock should trade at versus rivals St. Jude (STJ) and Medtronic (MDT) to 10%. The stock currently trades at around a 20% discount to its peers.
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  • Jan. 15, 2013, 8:46 AM
    The FDA has sent St Jude Medical (STJ) a warning about defects at the company's factory in California where it makes heart defibrillators, the wires for which have had no end of problems. The FDA won't authorize new product lines at the facility until the faults have been corrected but it's not seeking any product recalls or a shutdown of operations. St Jude doesn't expect the warning to hurt its earnings.
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  • Jan. 9, 2013, 5:43 PM
    St. Jude Medical (STJ) raises its preliminary Q4 results, now expecting an EPS of around $0.90 - $0.92, up from its prior view of $0.86 - $0.88 and better than Street estimates of $0.87. The firm cites better sales results along with cost savings initiatives during the quarter. Q4 sales are approximately $1.372B, slightly better than consensus estimates of $1.37B.
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  • Jan. 9, 2013, 10:07 AM
    St. Jude Medical (STJ +0.2%) has reportedly pledged to improve training and quality procedures, and correct flaws the FDA found during an inspection of the company's Sylmar facility in California, which manufactures a key heart-rhythm device. The inspection focused on the Durata wires that connect defibrillators to the heart and which have had no end of problems.
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  • Jan. 9, 2013, 3:46 AM
    Volcano (VOLC) CEO Scott Huennekens has predicted that the market for a test that shows whether patients need heart stents could increase ten-fold to $2B within a decade. That would be a boon not only to Volcano, which sells the tests and could become a takeover target, but also to St. Jude Medical (STJ), which is the only other company in the game. Doctors are enthusiastic as data indicates they've been over-stenting.
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  • Dec. 11, 2012, 4:37 PM
    St. Jude Medical (STJ) declares $0.23/share quarterly dividend, in line with previous. Forward yield 2.60%. For shareholders of record Dec. 31. Payable Jan. 31. Ex-div date Dec. 27. (PR)
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  • Dec. 10, 2012, 3:40 PM
    A group of Democratic Senators have signed a letter urging for a delay in implementing a tax on the medical device industry that is scheduled to go into effect January 1, saying the industry has received little guidance about how to comply with the tax, and is causing significant uncertainty and confusion. The Senators are requesting that a delay be included in the fiscal cliff bill Congress is currently negotiating.
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  • Dec. 6, 2012, 1:04 PM
    St. Jude Medical (STJ -0.5%) slips on a downgrade by TheStreet Ratings to Hold. The firm says that the stock's reasonable valuations are more than offset by deteriorating net income, weak operating cash flow and disappointing return on equity.
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  • Nov. 30, 2012, 11:27 AM
    St. Jude Medical (STJ +1.4%) gains on the back of yesterday's $1B buyback announcement and an upgrade to Buy at Mizuho. The firm says that concerns about a Durata recall are overblown, and that any impact on its EPS from market share loss in implanted defibrillators should be "more than offset" by yesterday's buyback announcement.
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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.