Key Developments: St. Jude Medical Inc (STJ)
46.78USD
21 May 2013
$0.06 (+0.13%)
$47.00
$46.85
$47.39
$46.70
2,865,443
2,442,254
$47.39
$30.25
Latest Key Developments (Source: Significant Developments)
St. Jude Medical Inc Announces Second Quarter Dividend
St. Jude Medical Inc announced that its Board of Directors declared a second quarter dividend of $0.25 per common share. This dividend amount is equal to the dividend paid during the first quarter of 2013 and brings the total dividend declared for the year to $0.50 per share. The dividend is payable July 31, 2013, to shareholders of record on June 28, 2013. Full Article
St. Jude Medical Inc Issues Q2 2013 EPS Guidance In Line With Analysts' Estimates; Reaffirms FY 2013 EPS Guidance
St. Jude Medical Inc announced that for second quarter of 2013, it expects consolidated net earnings to be in the range of $0.93 to $0.95. For fiscal 2013, it expects consolidated net earnings to be in the range of $3.68 to $3.73. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.93 for second quarter of 2013 and EPS of $3.69 for fiscal 2013. Full Article
St. Jude Medical Inc Receives CE Mark Approval Of Deep Brain Stimulation Systems For Both Primary And Secondary Dystonia
St. Jude Medical Inc announced European CE Mark approval of Brio, Libra and LibraXP deep brain stimulation (DBS) systems for managing the symptoms of intractable primary and secondary dystonia, a neurological movement disorder that causes a person's muscles to contract and involuntarily spasm, reducing the ability to control movement. DBS therapy for dystonia involves the delivery of mild electrical pulses to a specific target in the brain. Stimulation is delivered to one of two regions, the subthalamic nucleus (STN) or the globus pallidus interna (GPi), areas of the brain involved with controlling movement. Full Article
St. Jude Medical Inc Announces Public Offering of Senior Notes
St. Jude Medical Inc announced that it has priced an offering to sell $900 million of senior notes due 2023 (the 2023 Notes) and $700 million of senior notes due 2043 (the 2043 Notes). The 2023 Notes will bear interest at 3.25% per year and, unless previously redeemed, will mature on April 15, 2023. The 2043 Notes will bear interest at 4.75% per year and, unless previously redeemed, will mature on April 15, 2043. The Company intends to use the net proceeds to redeem in full its 3.75% senior notes due 2014 of which $700 million aggregate principal amount is outstanding and redeem in full its 4.875% senior notes due 2019 of which $500 million aggregate principal amount is outstanding and for general corporate purposes, which may include the repayment of short-term indebtedness. BofA Merrill Lynch, Wells Fargo Securities and US Bancorp are acting as joint book-running managers for the offering. A shelf registration statement relating to the offering was filed with the U.S. Securities and Exchange Commission on March 21, 2013. This offering was made pursuant to a prospectus supplement to the Company`s prospectus, dated March 21, 2013, filed as part of the Company`s effective shelf registration statement relating to these securities. Full Article
St. Jude Medical Inc Announces Increase In Quarterly Dividend
St. Jude Medical Inc announced that Board of Directors declared a nine% increase in the Company`s quarterly dividend to $0.25 per common share. At the new rate, the annual dividend would be $1.00 per share, compared to the previous annual dividend of $0.92 per share. The dividend is payable April 30, 2013, to shareholders of record on March 29, 2013. Full Article
St. Jude Medical Inc Recalls Wire Used To Help Plug Hole In Heart-Reuters
Reuters reported that St. Jude Medical Inc is recalling the wire used to put in place a device that closes openings between the two upper chambers of the heart, because of the potential for it to fracture, the U.S. Food and Drug Administration said on its website. There have been no serious injuries or deaths associated with the product, which has been used in about 120 procedures since it was introduced last year, St Jude spokeswoman Amy Jo Meyer said. St Jude recalled the wire because it saw the potential for it to fracture when used in situations involving certain cardiac anatomies and implant practices, Meyer said. Physicians may continue to use the previous version of the TorqVue Delivery System, which has a different design. Full Article
St. Jude Medical Inc Issues Q1, FY 2013 EPS Guidance Above Analysts' Estimates
St. Jude Medical Inc announced that for first quarter of 2013, it expects consolidated net earnings to be in the range of $0.91 to $0.93 per share (EPS) and for fiscal 2013 consolidated net earnings to be in the range of $3.68-$3.73. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.89 for first quarter of 2013 and EPS of $3.62 for fiscal 2013. Full Article
St. Jude Medical Inc Raises Q4 2012 Guidance
St. Jude Medical Inc announced that for the fourth quarter of 2012, it expects net sales of approximately $1.372 billion. St. Jude Medical's revenue fell within or exceeded all of the Company's previously announced guidance ranges. St. Jude Medical now projects that adjusted earnings per share will be in the range of $0.90 to $0.92, exceeding the top end of the Company's previously issued guidance by $0.02 to $0.04. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.372 billion and EPS of $0.87 for fourth quarter of 2012. Full Article
St. Jude Medical Inc Raises Q4 2012 Guidance
St. Jude Medical Inc announced that for the fourth quarter of 2012, it expects net sales of approximately $1.372 billion. St. Jude Medical's revenue fell within or exceeded all of the Company's previously announced guidance ranges. St. Jude Medical now projects that adjusted earnings per share will be in the range of $0.90 to $0.92, exceeding the top end of the Company's previously issued guidance by $0.02 to $0.04. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.372 billion and EPS of $0.87 for fourth quarter of 2012. Full Article
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against St. Jude Medical Inc
Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the District of Minnesota on behalf of a class (the Class) comprising all purchasers of the common stock of St. Jude Medical Inc between October 19, 2011 and November 20, 2012, inclusive (the Class Period). The Complaint alleges that throughout the Class Period the defendants issued false and misleading statements or failed to disclose material adverse facts concerning the Company's next-generation implantable cardioverter defibrillator system (ICD), known as Durata. Specifically, defendants knew or recklessly disregarded but failed to disclose that: (1) Durata leads were subject to the same or similar design flaws that resulted in abrasion and wire exposure risks in previous-generation ICD leads; (2) the Company's design, manufacture, testing and quality control processes for ICD leads were deficient, such that the Company's leads, including the Durata's, presented a material risk to patients and would not be a commercial success; and (3) as a result of the foregoing, St. Jude Medical lacked a reasonable basis to tout the testing and manufacturing processes underlying Durata and the Company's proprietary insulation material – "Optim" – to project that Durata leads would be a commercial success and characterize the Durata leads as an improvement over its previous-generation leads. Full Article
H&M, others back new Bangladesh factory safety accord
STOCKHOLM/MADRID - The world's two biggest fashion retailers, Inditex and H&M, along with several other companies have backed an accord aimed at preventing another disaster like last month's Bangladesh factory building collapse that killed more than 1,100 people.
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