Barclays Maintains an 'Overweight' on St. Jude Medical (STJ); All About Riata
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Price: $80.82 --0%
Rating Summary:
3 Buy, 21 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 21 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on St. Jude Medical (NYSE: STJ) price target of $51.00.
Barclays analyst says, "We think that STJ shares are reflecting a high level of
concern over the potential for broader issues with the company's Riata leads and conducted a review of large amount of available data including: a) studies causing the controversy; b) product performance reports; c) active performance monitoring; d) the FDA MAUDE database; e) literature review; and f) MDT's 2007 Fidelis recall."
"Our conclusion is that while Riata silicone leads in the field will likely have higher rates of abrasion than product performance reports and the MAUDE database (95% of MAUDE reports are from product performance reports), they will: 1) likely have lower rates than those in the Ireland and Germany studies due partially to the choice of leads (single versus dual coil); 2) likely be comparable to other silicone leads; and 3) largely be able to continue delivering therapy. Further, we see a number of differences between this issue and MDT's 2007 recall of Fidelis that should limit downside for STJ."
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 $34.78 yesterday.
Barclays analyst says, "We think that STJ shares are reflecting a high level of
concern over the potential for broader issues with the company's Riata leads and conducted a review of large amount of available data including: a) studies causing the controversy; b) product performance reports; c) active performance monitoring; d) the FDA MAUDE database; e) literature review; and f) MDT's 2007 Fidelis recall."
"Our conclusion is that while Riata silicone leads in the field will likely have higher rates of abrasion than product performance reports and the MAUDE database (95% of MAUDE reports are from product performance reports), they will: 1) likely have lower rates than those in the Ireland and Germany studies due partially to the choice of leads (single versus dual coil); 2) likely be comparable to other silicone leads; and 3) largely be able to continue delivering therapy. Further, we see a number of differences between this issue and MDT's 2007 recall of Fidelis that should limit downside for STJ."
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 $34.78 yesterday.
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