Mr. Weinstein said in the note, "In 2011, St. Jude will launch what we believe is the most important new product in ICDs since 2002. The Street doesn't see it yet."
As a result of the new technology being introduced, St. Jude should see "significant" gains in market share, the analyst said.
Shares of St Jude Medical are trading up 6.38% at $51.53.
Shares of St. Jude Medical (NYSE:STJ) jumped today after Michael Weinstein, a J.P. Morgan analyst, expressed optimism about new technology the company is developing in the market for implantable cardioverter-defibrillators, or ICD