Shares plummet as St Jude sounds warning of Q3 earnings shortfall
This article was originally published in Clinica
Executive Summary
St Jude Medical’s share price on the NYSE dropped by around 14% after it lowered profit targets as a result of weaker-than-expected third-quarter sales across the majority of its product categories. On October 6 – the day that St Jude announced its preliminary Q3 results – shares opened at $32.70 each, a significant drop from $38.24, at which shares closed the previous day.