St. Jude Medical Sees Weakness in Cardiac Rhythm Management, but Sale to Abbott Remains on Track
Wide-moat St. Jude Medical reported third-quarter results, with pockets of strength offset by product gaps that dampened top- and bottom-line growth. We’re leaving our fair value estimate of $85 unchanged, as we remain confident that the Abbott deal should close by the end of the year. Despite delays in some of St. Jude’s product cycles, emerging issues with premature battery failure, and questions about the hackability of its cardiac rhythm management devices, Abbott still needs St. Jude’s prod...St. James's Place provides a range of insurance, investment and other wealth management services through its subsidiaries, which are incorporated in the U.K., Ireland and Asia.
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