Jefferies & Company Reiterates Hold Rating, $38 PT for St. Jude Medical

In a report published earlier today, Jefferies & Company, Inc. reiterated its Hold rating and $38.00 for St. Jude Medical, Inc. (NYSE: STJ).

Jefferies went on to say “STJ issued a release on Friday with its findings on the Durata failure recently reported in FDA's MAUDE database. After examining the lead at the hospital in FL where it was removed, the root cause was found to be external abrasion and not the more damning insideout mode. While the company's findings maintain Durata's pristine record with inside-out externalizations, concern over STJ ICD leads persists and we maintain our Hold rating.”

St. Jude Medical, Inc. closed on Friday at $37.90.