Top Healthcare Stocks
Healthcare stocks are lower, with the NYSE Healthcare Sector
Index slipping about 0.6% and shares of healthcare companies in the
S&P 500 declining about 0.5% as a group.
In company news, MAKO Surgical Corp. (
) is up nearly 83% at $29.49 a share after the robotic surgery
company accepted a $1.41 billion buyout offer from Stryker Corp (
The medical device maker will pay $30 per MAKO share, an 86%
premium to its $16.17 closing price Tuesday. The transaction must
still be approved by MAKO shareholders.
SYK said the acquisition will likely shave between $0.10 to
$0.12 cents per share from its adjusted earnings during the first
full year after closing. The deal is anticipated to be neutral to
its earnings in the second year and add to earnings after that. SYK
shares are down 2.2% at $69.31 each.
In other sector news,
(+) DVAX, (+7.6%) Reports immunogenicity and safety results of
two Phase III trials of its Heplisav investigational hepatitis B
vaccine, concluding the drug can be "an important new adjuvant for
immunization against hepatitis B."
(-) CLVS, (-12.5%) Bloomberg reports the biotech company is
struggling to find a buyer. CLVS previously hired Credit Suisse to
shore up interest in an acquisition.
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