St. Jude Medical (STJ) Tops Q2 EPS by 2c
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Deutsche Bank Downgrades St. Jude Medical (STJ) to Hold
July 23, 2015 7:17 AM EDTDeutsche Bank downgraded St. Jude Medical (NYSE: STJ) from Buy to Hold with a price target of $77.00 (from $76.00). The downgrade follows recent outperformance.
Analyst Kisten Stewart said, "We upgraded STJ shares to Buy in Feb 2011 after its investor day as we were impressed... More
St. Jude Medical (STJ) PT Raised to $80 at Evercore ISI on Thoratec Accretion
July 22, 2015 1:57 PM EDTEvercore ISI analyst Vijay Kumar raised estimates and his price target on St. Jude Medical (NYSE: STJ) to $80.00 (from $77.50) following the acquisition of Thoratec (NASDAQ: THOR) but maintained a Hold rating.
Kumar commented, "STJ's quarterly results took a backseat with investors mainly focused on the announcement of acquisition of Thoratec, a leading LVAD (left ventricular assist device) player for Class IV heart failure patients. Strategically the acquisition makes sense for STJ, given its... More
St. Jude Medical (STJ) to Acquire Thoratec (THOR) for $63.50/Share in Cash
July 22, 2015 7:00 AM EDT(Updated - July 22, 2015 7:01 AM EDT)
St. Jude Medical (NYSE: STJ) and Thoratec (NASDAQ: THOR) announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec for $63.50 per share in a cash transaction valued at approximately $3.4 billion, net of cash acquired. The all-cash transaction represents a premium of 40.1 percent compared to $45.34, Thoratec's volume-weighted average trading price for the 30 trading day period ending July 17, 2015, and a 35.4 percent premium to the closing price on... More
