Despite an expected dip in profit, analysts are generally optimistic about St. Jude Medical as it prepares to reports its second-quarter earnings on Wednesday, July 22, 2015. The consensus earnings per share estimate is 99 cents per share.
For the fiscal year, analysts are projecting earnings of $3.94 per share. A year after being $1.45 billion, analysts expect revenue to fall 4% year-over-year to $1.39 billion for the quarter. For the year, revenue is expected to come in at $5.51 billion.
A decline in revenue in the first quarter snapped a streak of three consecutive quarters of growing revenue.
The company has been profitable for the last eight quarters, and for the last four, profit has risen year-over-year by an average of 55%. The company enjoyed the boost in the second quarter when net income expanded more than twofold, marking the biggest gain.
The majority of analysts (80%) rate St. Jude Medical as a buy. This compares favorably to the analyst ratings of nine similar companies, which average 64% buys.
St. Jude Medical develops, manufactures and distributes cardiovascular medical devices. Boston Scientific, also in the medical equipment and supplies industry, will report earnings on Thursday, July 23, 2015. Analysts are expecting earnings of 21 cents per share for Boston Scientific, the same as last year's results. Other companies in the medical equipment and supplies industry with upcoming earnings release dates include: C.R, Edwards Lifesciences and AtriCure.
Earnings estimates provided by Zacks.
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