From St. Jude's (STJ) earnings call. Lowers 2013 sales guidance to $5.36-5.48B, representing a cut of $107M at the midpoint. Analysts expect $5.7B. The lower forecast is due to changes in currency assumptions and a more cautious outlook in its cardiovascular business. Expects currency neutral sales growth of -1% to +2%. (Q1 earnings)
More on St. Jude Medical (STJ) Q1: net profit +5% to $223M, with the company enjoying a $21M tax benefit but taking $61M in charges, primarily related to restructuring and acquisition activities. Forex fluctuations hurt sales by $17M. Sales breakdown: Cardiac Rhythm Management -8% to $678M; Atrial Fibrillation +5% to $233M; total cardiovascular sales -2% to $328M. Expects Q2 EPS of $0.93-$0.95 vs consensus of 0.94 and FY EPS of $3.68-$3.73 vs $3.95. (PR)
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.
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.
More on St. Jude Medical (STJ) Q3: net profit drops to $176M from $227M, due to charges of $80M that are mostly related to restructuring. Outlook: Q4 EPS of $0.86-$0.88 vs. consensus of $0.89. FY EPS of $3.42-$3.44 vs. consensus of $3.43 and prior guidance of $3.40-$3.45. Board authorizes $300M repurchase program. Shares -3.6%.
: There are many stocks in the medical devices sector with low valuations and good demographic trends ahead. Definitely good hunting grounds.
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.