St. Jude Medical kept at market perform by JMP

JMP Securities analyst Robert C. Faulkner maintained St. Jude Medical, Inc. at a market outperform rating with updated estimates due to ICD market growth expectations. Earnings per share are changed to $1.68 from $1.65 in 2006, to $1.95 from $1.91 in 2007 and to $2.22 from $2.25 in 2008. For 2006, Merrill is forecasting revenues of $3.3 billion from $3.306 billion in 2006, $3.628 billion from $3.672 billion in 2007 and to $3.978 billion from $4.073 billion in 2008. Shares of the St. Paul, Minn.-based pharmaceutical company were down $1.18, or 3.58%, at $31.81 on volume of 2,352,500 shares versus the three-month running average of 5,166,620 shares. (NYSE: STJ)

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