NEW YORK (TheStreet) -- St. Jude Medical Inc (STJ) shares are down 2.9% to $61.36 in trading on Wednesday.
The stock dropped despite the cardiovascular medical device manufacturer increasing year over year revenue and beating analysts consensus estimates.
St Jude Medical posted an EPS of 96 cents, beating Captial IQ first quarter estimate of 95 cents per share. Year to year quarterly revenue was up 2% to 1.36 billion, matching analysts estimates.
St. Jude also issued in line guidance ranges of 99 cents to $1.01 EPS for the second quarter and between $3.95 and $4 for the year.
TheStreet Ratings team rates ST JUDE MEDICAL INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ST JUDE MEDICAL INC (STJ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: