St. Jude Medical Inc. Earnings: The Profit Streak Continues

S&P 500 (NYSE:SPY) component St. Jude Medical Inc. (NYSE:STJ) reported its results for the fourth quarter. St. Jude Medical develops, manufactures and distributes cardiovascular medical devices.

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St. Jude Medical Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the medical appliances and equipment company fell to $163.4 million (51 cents per share) vs. $206.4 million (62 cents per share) a year earlier. This is a decline of 20.9% from the year earlier quarter.

Revenue: Rose 4.2% to $1.41 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: STJ reported adjusted net income of 86 cents per share. By that measure, the company beat the mean estimate of 84 cents per share. Analysts were expecting revenue of $1.4 billion.

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the third quarter, by one cent in the second quarter, and by 2 cents in the first quarter.

Revenue has risen the past four quarters. Revenue increased 11.5% to $1.38 billion in the third quarter. The figure rose 10.2% in the second quarter from the year earlier and climbed 9% in the first quarter from the year-ago quarter.

Net income has dropped 2.1% year over year on average across the last five quarters. Performance was hurt by a 20.9% decline in the most recent quarter from the year earlier quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 87 cents a share to 85 cents over the last ninety days. The average estimate for the fiscal year has remained at $3.27 per share.

Competitors to Watch: Medtronic, Inc. (NYSE:MDT), Boston Scientific Corp. (NYSE:BSX), Edwards Lifesciences Corp (NYSE:EW), Hansen Medical, Inc. (NASDAQ:HNSN), Greatbatch Inc. (NYSE:GB), AtriCure Inc. (NASDAQ:ATRC), Volcano Corporation (NASDAQ:VOLC), C.R. Bard, Inc. (NYSE:BCR), and Stereotaxis, Inc. (NASDAQ:STXS).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com