A number of firms have modified their ratings and price targets on shares of St. Jude Medical (NYSE: STJ) recently:

  • St. Jude Medical had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $40.00 price target on the stock.
  • St. Jude Medical was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating. They now have a $43.00 price target on the stock. They wrote, “We reduce our Q4:12 and 2013 estimates largely to reflect an expectation for a more moderate rebound in the company’s CRM business. We are concerned about continued decline in ICD lead share, coupled with the potential for a Warning Letter from FDA at the company’s Sylmar CRM facility, both of which more than offset our optimism regarding incremental sales growth potential in 2013 in structural heart (Portico TAVI, PFO), vascular (FFR/OCT) and AF (MediGuide).”
  • St. Jude Medical was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating.
  • St. Jude Medical was downgraded by analysts at Goldman Sachs from a “buy” rating to a “neutral” rating. They now have a $42.00 price target on the stock. They wrote, “Following weak 3Q2012 results, a reassessment of our model, and recent trends in key end-markets, we downgrade shares of St. Jude Medical (STJ) from Buy to Neutral and lower our price target to $42 (implying 2.8% upside). The company’s core business is facing greater headwinds than we had contemplated; while new growth drivers are gaining traction at a slower rate. We no longer see the potential for a material improvement in growth or a positive re-rating in the P/E multiple.”
  • St. Jude Medical had its “buy” rating reaffirmed by analysts at Lazard. They now have a $46.00 price target on the stock.

St. Jude Medical, Inc. opened at 39.50 on Monday. St. Jude Medical, Inc. has a 1-year low of $32.13 and a 1-year high of $44.80. The company has a market cap of $12.494 billion and a price-to-earnings ratio of 16.69.

St. Jude Medical, Inc. (St. Jude) develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain.