JMP reiterates St. Jude Medical at strong buy

St. Jude Medical, Inc. was reiterated at a strong buy rating by JMP Securities analyst Robert C. Faulkner. JMP maintains a positive long-term outlook based on solid market unit growth and the upcoming St. Jude product pipeline with proven share-shifting potential. Longer term, the pipeline for neuromodulation was impressively broad, and continued tissue valve launches should drive growth in the formerly declining valve business. Shares of the St. Paul, Minn., medical device company were down $0.35, or 0.71%, at $48.62 on volume of 1,717,900 shares versus the three-month running average of 2,258,910 shares. (NYSE: STJ)

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