St. Jude Medical (NYSE: STJ) is expected to report Q2 earnings around July 18. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict St. Jude Medical's revenues will decrease -0.9% and EPS will expand 2.4%.

The average estimate for revenue is $1.43 billion. On the bottom line, the average EPS estimate is $0.87.

Revenue details
 Last quarter, St. Jude Medical tallied revenue of $1.40 billion. GAAP reported sales were 1.4% higher than the prior-year quarter's $1.38 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.86. GAAP EPS of $0.67 for Q1 were 5.6% lower than the prior-year quarter's $0.71 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 74.3%, 30 basis points worse than the prior-year quarter. Operating margin was 26.7%, 220 basis points better than the prior-year quarter. Net margin was 15.2%, 170 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $5.70 billion. The average EPS estimate is $3.46.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on St. Jude Medical is outperform, with an average price target of $46.55.

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