St. Jude Medical, Inc. STJ is one of the leading worldwide manufacturers of innovative cardiovascular and implantable neurostimulation medical devices. St. Jude’s breakthrough CardioMEMS technology is a major growth driver for the company.
Currently, this St. Paul, MN-based company carries a Zacks Rank #2 (Buy) but that could change following its third-quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: St. Jude’s adjusted earnings of 97 cents per share was in line with the Zacks Consensus Estimate, but declined nearly 5% on a year-over-year basis.
Revenues: St. Jude’s net sales declined 2.4% year over year to $1.34 billion, and fell short of the Zacks Consensus Estimate of $1.35 billion.
Key Stats: Atrial fibrillation sales increased roughly 7.1% year over year to $271 million, while on a constant currency basis, it surged 17%. Neuromodulation revenues were $121 million, reflecting a year over year growth of 13% (or 19% on a constant currency basis).
Major Factors: For the fourth quarter of 2015, St. Jude expects revenue in the range of $1.46–$1.48 billion, while adjusted EPS is expected to be in the range of $1.00–$1.02. For fiscal 2015, revenues are expected to lie in the band of $5.55–5.57 billion, while adjusted EPS is expected to be in the range of $3.93–$3.95.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this St. Jude Medical earnings report later!
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