LOS ANGELES (MarketWatch) — Shares of St. Jude Medical Inc. climbed Wednesday after the medical-products maker offered a fourth-quarter forecast that showed sales would be higher than anticipated by Wall Street.
St. Jude /quotes/comstock/13*!stj/quotes/nls/stj (STJ 41.80, +0.05, +0.12%) was up nearly 2% to $41.73 after the company said fourth-quarter sales should reach $1.35 billion. Analysts polled by FactSet Research had predicted sales of $1.29 billion for the period ended Dec. 31.
St. Jude also said it expects adjusted earnings to be at the high end of a previous forecast of 72 cents to 74 cents a share. The estimate from FactSet calls for 73 cents a share.
St. Jude is expected to release fourth-quarter earnings on Jan. 26.
Meanwhile, medical-services company Baxter International Inc. /quotes/comstock/13*!bax/quotes/nls/bax (BAX 50.97, +1.34, +2.70%) was up nearly 3% after the company’s presentation at the J.P. Morgan health-care conference in San Francisco.
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Wednesday, January 12, 2011
Health-care Stocks: St. Jude shares rise on higher sales forecast
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