St. Jude Medical
The 10-second takeaway
For the quarter ended March 30 (Q1), St. Jude Medical missed slightly on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted. Non-GAAP earnings per share grew. GAAP earnings per share grew significantly.
Gross margins dropped, operating margins shrank, net margins increased.
St. Jude Medical booked revenue of $1.34 billion. The 23 analysts polled by S&P Capital IQ predicted revenue of $1.36 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.92. The 26 earnings estimates compiled by S&P Capital IQ predicted $0.91 per share. Non-GAAP EPS of $0.92 for Q1 were 7.0% higher than the prior-year quarter's $0.86 per share. GAAP EPS of $0.78 for Q1 were 16% higher than the prior-year quarter's $0.67 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 73.2%, 110 basis points worse than the prior-year quarter. Operating margin was 26.2%, 50 basis points worse than the prior-year quarter. Net margin was 16.7%, 150 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.39 billion. On the bottom line, the average EPS estimate is $0.94.
Next year's average estimate for revenue is $5.49 billion. The average EPS estimate is $3.70.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on St. Jude Medical is hold, with an average price target of $44.41.
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