Healthcare Stocks Sliding; Mako Surgical Surges on $1.4-Bln Buyout Offer

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Top Healthcare Stocks

JNJ -1.08%

PFE -0.26%

ABT -1.78%

MRK +0.59%

AMGN -1.75%

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. ( MAKO ) is up nearly 83% at $29.49 a share after the robotic surgery company accepted a $1.41 billion buyout offer from Stryker Corp ( SYK ).

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.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: MAKO , SYK

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