UBS Maintains a 'Buy' on St. Jude Medical (STJ); Cautious Doc Feedback on Riata / Durata
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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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UBS maintains a 'Buy' on St. Jude Medical (NYSE: STJ) price target of $42.00.
UBS analyst says, "We spoke with a few US ICD implanters to gain perspective on STJ market share in light of recent reports on Riata lead failures. While these docs anticipate lowering their use of STJ highpower
devices in the near-term, our sample size is small & we are reluctant to generalize these findings to the broader EP community. For now, we adjusted our model to reflect flat STJ ICD de novo share in the near-term; we still expect improvement in overall share w/ replacement cycle tailwind."
"We estimate STJ YTD organic rev growth is 1%; we model 3% in 2012 (1% w/ FX) as a stabilizing US ICD market & new products each add ~1%. Our 3% is most comparable to consensus’ 5%. We trimmed EPS to $3.44 (assumes a modest ~10bps of op mgn expansion & -$0.10 due to FX); Street at $3.58."
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 $36.03 yesterday.
UBS analyst says, "We spoke with a few US ICD implanters to gain perspective on STJ market share in light of recent reports on Riata lead failures. While these docs anticipate lowering their use of STJ highpower
devices in the near-term, our sample size is small & we are reluctant to generalize these findings to the broader EP community. For now, we adjusted our model to reflect flat STJ ICD de novo share in the near-term; we still expect improvement in overall share w/ replacement cycle tailwind."
"We estimate STJ YTD organic rev growth is 1%; we model 3% in 2012 (1% w/ FX) as a stabilizing US ICD market & new products each add ~1%. Our 3% is most comparable to consensus’ 5%. We trimmed EPS to $3.44 (assumes a modest ~10bps of op mgn expansion & -$0.10 due to FX); Street at $3.58."
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 $36.03 yesterday.
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