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Biotech / Medical : St. Jude Medical (NYSE: STJ)
STJ 80.820.0%Jan 18 4:00 PM EST
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To: vinod Khurana who wrote (15)10/17/1997 9:28:00 PM
From: vinod Khurana   of 33
 
RESEARCH ALERT - Merrill restarts device companies

NEW YORK, Oct 17 (Reuters) - Merrill Lynch said on Friday it reinitiated coverage on shares of various medical
device companies, including Guidant Corp (GDT) with a near and long-term buy rating.

Merrill restarted Becton Dickinson and Co (BDX) as a near and long-term accumulate and Boston Scientific Corp
(BSX) as a near-term neutral and long-term buy.
St. Jude Medical Inc (STJ) was reinitiated as a near-term neutral, long-term accumulate.
Merrill restarted U.S. Surgical Corp(USS - news) as a near and long-term accumulate.
Analyst Vivian Wohl said her 1997 earnings estimate for Guidant was $1.33 per share, her 1998 estimate was
$1.75 per share and her 1999 estimate was $2.10 per share.
Guidant was ''hitting on all cylinders,'' she said, especially in terms of gaining share in dual chamber device market.
Guidant also stood to benefit from rapid rollout of new stent to be used along with its rapid exchange catheter.
Becton was a cheap stock which would likely see revenue acceleration in 1998, she said.
St. Jude needed to ramp up market share of Ventritex's implantable defibrillator device, cut costs and stabilize its
position in the pacemaker market which was slipping in Europe.
Guidant stock rose 2/16 to 61-13/16, Boston Scientific lost 1/2 to 58-1/4, St. Jude lost 1/8 to 33-5/8, Becton
lost 8/16 to 48-7/16 and U.S. Surgical gained 36 to 29-9/16.
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