Tag Archives: stj

St. Jude Medical Nabs Thoratec, Beats Q2 Estimates

Device giant St. Jude Medical (STJ) on Wednesday beat Q2 estimates and announced that it’s acquiring Thoratec (THOR) for $3.4 billion, sending the latter’s stock to a new high. Rumors that St. Jude and Thoratec were talking drove Thoratec’s stock up nearly 18% to close at 57.58 Tuesday, but the final price St. Jude agreed to topped that, at $63.50 a share in cash. Analysts generally applauded the deal, seeing Thoratec’s heart-failure technology as

St. Jude, Abbott Labs Beat Q1 Expectations

Two medical-product giants were rising in the stock market early Wednesday after beating first-quarter expectations. St. Jude Medical (STJ) jumped 6.5% to a new high above 73 after it reported earnings of 91 cents a share, up 6% from the year-earlier quarter and in line with analysts’ consensus. Revenue shrank 1% to $1.345 billion, but that beat consensus by more than $25 million. The company guided Q2 earnings on the high side of consensus at 99

St. Jude, Abbott Labs Earnings Beat Q2 Estimates

Medical-products giants St. Jude Medical (STJ) and Abbott Laboratories (ABT) both beat analysts’ Q2 expectations and raised their guidance Wednesday, though their shares were heading in opposite directions on the stock market today. St. Jude, smaller and specialized mainly in cardiovascular devices, said earnings rose 6% over the year-earlier quarter to $1.02 a share, beating analysts’ consensus by 2 cents. Sales climbed 3% to $1.45 billion, vs.