St. Jude maintained by JMP at strong buy

St. Jude Medical Inc. was maintained by JMP Securities analyst Robert C. Faulkner at a strong buy rating with a target price of $55. JMP said St. Jude's third-quarter results showed revenues of $738 million, above JMP's estimate of $714 million and consensus of $730 million. Earnings per share also beat expectations at $0.40 a share above estimates of $0.39 a share. Performance was driven by Cardiac Rhythm Management and a deal to buy Advanced Neuromodulation Systems appears to be a solid acquisition, JMP said. Shares of the St. Paul, Minn.-based maker marketer of cardiac devices were up $2.10, or 4.50%, at $48.75 on volume of 5,633,400 shares versus the three-month running average of 2,144,550 shares.

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