ST. Jude (STJ) is benefiting from an aging population's growing demand for pacemakers, other implantable cardiac devices and heart valves, Frels says. Adds co-manager Henneman, "St. Jude has proven very adept at successfully delivering effective and safe products to market. The company has been particularly strong in cardiac-rhythm management.

And some heart assists, like St. Jude (STJ), which have been doing excellently, are getting killed. Drug stocks -- no one thinks they can get through unscathed now.

Cramer said so

Hold - Price 32.23 on Dec. 23
by Jefferies & Co.
STJ has announced the acquisitions of Radi Medical and MediGuide for a combined $550 million. Both represent strategic pursuits of growth outside the core CRM [cardiac-rhythm management] business...and are projected to be neutral to '09 EPS expectations [but] Radi [should] be accretive to '10 earnings. We haven't changed estimates...2009 EPS guidance is $2.47 to $2.52. Our 34 target [reflects] a price/earnings approach (13 times our 2009E-EPS)....Risks include continued share gains in the CRM market and...recall of a competitor's product. Market cap: $11.2 billion.

St. Jude Medical (STJ) upgraded to overweight from neutral at JPMorgan. Note earnings visibility, lack of exposure to financial crisis, and attractive valuation below long-term growth rate.

a PE of 22, and a PEG of 1.20

solid stock, recommended by many advisors

Cramer pick,

health care devices undervalued action alerts

Ognar likes St. Jude Medical (STJ), the third-largest maker of implanted electronic heart devices, because the market hasn't given it enough credit for an ability to gain share and grow margins. The fund bought shares in the St. Paul medical-device maker early last year for about 40 around the current price. Earnings are expected to hit $2.12 in '08 and $2.42 in '09

good equipment-