J.P. Morgan Reiterates OW Rating On STJ

J.P. Morgan is reiterating its Overweight rating on shares of St. Jude Medical Inc. 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.