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Headquartered in St. Paul, Minnesota, St. Jude Medical, Inc. (STJ) was founded in 1976 and designs, manufactures and distributes medical devices to treat cardiovascular and neurological conditions. The company employs approximately 12,000 employees. In 2007, the company had net sales of $3.8 billion. In first quarter 2008, 53% of the company's revenue came from the domestic market with 47% outside the U.S.
We look for global demographic trends -- aging populations in developed nations and the rapid urbanization of developing countries to fuel long-term growth in this stock. These trends both give rise to growing demand for cardiovascular health care.
STJ should remain somewhat insulated from the recent economic fallout. Management has demonstrated consistent long-term execution. STJ operates in end-markets totaling $16 billion in sales which are growing 7-8% per annum. We maintain our rating as a Buy.
Read the full analyst report on STJ
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