Combine a bull market with increasing optimism that major med-tech markets are stabilizing, and it's not so hard to see why stocks like St. Jude Medical (NYSE:STJ) have seen solid runs and enjoy pretty favorable valuations today. In the case of St. Jude, while I have generally been on the side arguing that the Street was not giving the company enough credit for its long-term prospects, the move into the mid-$40s for the stock argues that the Street has in fact come up to speed.
With that in mind, St. Jude is going to need to start outperforming to drive a significantly higher multiple and share price.
Please read more here:
http://www.massdevice.com/blogs/massdevice/bulls-may-have-run-little-too-far-with-st-jude-medical
MassDevice: The Bulls May Have Run A Little Too Far With St. Jude Medical
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