J.P. Morgan Reiterates OW Rating On STJ

J.P. Morgan is reiterating its Overweight rating on shares of St. Jude Medical Inc. (NYSE: STJ).

“St. Jude reported strong 1Q results Wednesday morning,” J.P. Morgan writes. “Revenues of $1.376B increased 9.0% reported and 4.6% organic, in-line with consensus. Sales were driven by a solid performance from the company's CRM business and accelerated growth from AFib and Cardiovascular, which grew 14.6% and 28.0%, respectively. On the bottom line, St. Jude posted 1Q EPS of $0.80 (+6.5%), coming in $0.02 better than the Street and a penny above the high end of management's guidance range.”

St. Jude Medical closed Wednesday at $53.11.