Morgan Keegan Releases St. Jude Medical Riata Lead Issue Update

In a recent research report published by Morgan Keegan, St. Jude Medical, Inc.'s (NYSE: STJ) Riata lead is undergoing a FDA Class I recall because of an insulation issue.

In the report, Morgan Keegan said, “St. Jude and Societal recommendations suggest that physicians leave the leads alone and only perform routine follow-ups. In an earlier note we suggested "trust" issues remain; one hospital we have spoken with is ignoring the recommendations and implementing a stricter protocol to deal with implanted Riata leads. St. Jude is an Outperform rated stock with a $53 Price Target.”

St. Jude Medical closed Friday at $41.27.