You mean $4 coming soon to St. Jude's stock price? I doubt it but anything is possible.
Or do you mean $4 coming on BSX stock price? I would be willing to bet that is what you meant. I also stongly doubt that.
Here is why......... St. Jude recalled the Riata lead in Dec. 2011. Issued it's first Dear doctor letter on the matter in Dec. 2010. Reports have recently surfaced that St. Jude had been trending this problem as long #$%$ to 6 years ago. (Go read St. Jude's news headlines from a few weeks ago). St. Jude has tapped danced around this issue for a long time. They are coming up with new names in the Maude database to describe the issue. Internal Insulation Fracture, Inside out abrasion, Externalized conductors, Why St. Jude is playing this game is beyond me.
FDA is currently at St. Jude's CRM division manufacturing facility in California. (Again go read this morning headlines for St. Jude) Daniel Starks St. Jude's CEO said on the conference call this morning to investors "Do not be alarmed if we recieve a 483 (FDA warning letter) from this current visit to our facility by the FDA." He went onto say "I know it is alarming but do not be surprised"
The FDA made an unprecedented move on this Riata issue about 1 or 2 months ago. Recommending that all Riata leads be flouroscopied to look for externalized conductors. The FDA went onto say a few months back "The Durata (St. Judes current ICD lead) is structurally very similiar to the former lead the Riata." and they (St. Jude) basicly filed paperwork a few years ago to add Optimum coating to this Riata lead and then change the name to Durata. The FDA has finally figured out St. Jude's game and now is all over them. It took a long time for all this to see the light of day but that time has come. St. Jude is now having to pay the price for all it's games it has been playing on this matter.
That is why I believe this is unique to St. Jude. I do not believe BSX is going to $4 over this matter.
Tomorrow will answer these questions when BSX annouces its 3rd quarter results.
I think the original poster meant what he said, STJ going to $4. STJ has pretty much lost all market share, and the FDA is now first going to do a warning letter, then consent decree, and eventually STJ will go out of business. STJ has very poor quality products, and nobody buys their deadly, defective garbage anymore. BSX has gobbled up the lion's share of the CRM market and built a monopoly. With Cameron Health already getting FDA approval for the leadless ICD, and no other company in the universe has a product like that, BSX will cement their monopoly. BSX has the best and the brightest employees, from the CEO all the way down to the engineers and techs, they are the hardest working bunch out there, no other company comes close to the innovation and creativity that has defined BSX for generations. BSX will skyrocket as they continue double digit growth and continue to cement the monopoly they have.