Medical devices major
St. Jude Medical
) recently revealed approval from the U.S. Food and Drug
Administration ("FDA") for its Ellipse implantable cardioverter
defibrillator ("ICD"). ICDs are sophisticated implantable devices
used to treat abnormal and lethal rapid heart beat, which may lead
to unexpected death due to cardiac problems.
The Ellipse ICD was developed with input from over 200 doctors.
It incorporates special design enhancements to yield a miniscule
high energy device, which is the smallest in the world. This ICD
was created to increase both comfort for patients and usability for
According to a doctor, the Ellipse ICD takes into account safety
aspects with its latest algorithms designed to reduce shocks.
Furthermore, this device offers the same cutting edge parameters
incorporated in the company's Fortify Assura ICD.
The Ellipse ICD is in compliance with International Standards
Organization's ("ISO") specification for connector. Its DF4
connector cuts down the count of connections between the device and
the defibrillation lead. It is noteworthy that St. Jude was the
first company to offer DF4 know-how in 2009.
St. Jude is consistently producing revenue growth and positive
earnings surprises over the past several quarters. We are impressed
by its solid fundamentals, healthy growth trajectory, strong
product mix, robust pipeline and cost management initiatives.
While a host of new growth drivers (including new products and
emerging markets) are expected to boost results in 2012 and beyond,
we remain cautious about increased competition, a still soft CRM
market and the dilutive impact of acquisitions.
A still choppy CRM space overhangs on St. Jude and its peers
). Our long-term Neutral recommendation on St. Jude is in agreement
with a short-term Zacks #3 Rank (Hold).
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