Canaccord Genuity Maintains a 'Buy' on St. Jude Medical (STJ); The FDA 'PR' Move
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Price: $47.00 +0.38%
Rating Summary:
10 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
10 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade STJ Now!
Canaccord Genuity maintains a 'Buy' on St. Jude Medical (NYSE: STJ) price target of $50.00.
Analyst, Jason R. Mills, said, "FDA has recommended that patients who have Riata or Riata ST leads undergo chest X-ray to evaluate whether there are abnormalities with the leads’ insulation. However, FDA is not recommending removal of leads, stating that “the majority of Riata and Riata ST leads…continue to function normally and provide life-saving support for patients.” FDA is also requiring STJ to conduct surveillance on Durata ICD leads, which seems a bit impetuous FDA’s part, in our view. While we have not seen evidence that there’s a problem with Durata leads, FDA’s action may have made some investors nervous, leading to the sell-off in STJ shares late yesterday afternoon."
For an analyst ratings summary and ratings history on St. Jude Medical click here. For more ratings news on St. Jude Medical click here.
Shares of St. Jude Medical closed at $36.87 yesterday, with a 52 week range of $32.13-$46.22.
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Analyst, Jason R. Mills, said, "FDA has recommended that patients who have Riata or Riata ST leads undergo chest X-ray to evaluate whether there are abnormalities with the leads’ insulation. However, FDA is not recommending removal of leads, stating that “the majority of Riata and Riata ST leads…continue to function normally and provide life-saving support for patients.” FDA is also requiring STJ to conduct surveillance on Durata ICD leads, which seems a bit impetuous FDA’s part, in our view. While we have not seen evidence that there’s a problem with Durata leads, FDA’s action may have made some investors nervous, leading to the sell-off in STJ shares late yesterday afternoon."
For an analyst ratings summary and ratings history on St. Jude Medical click here. For more ratings news on St. Jude Medical click here.
Shares of St. Jude Medical closed at $36.87 yesterday, with a 52 week range of $32.13-$46.22.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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