St. Jude Lifts Medical Devices ETF

By ETF Trends,  April 20, 2011, 09:47:26 AM EDT

A sharp rally in St. Jude Medical ( STJ ) lifted specialized healthcare exchange traded funds (ETFs) on Wednesday morning after the medical-device company reported better-than-expected earnings.

The $479 million iShares Dow Jones U.S. Medical Devices Index Fund (NYSEArca: IHI) followed St. Jude shares higher. The stock is a top-five holding at more than 6% of the ETF.

The iShares Dow Jones U.S. Medical Devices was up 12.3% year to date as of April 19, according to Morningstar.

Swiss device maker Synthes recently confirmed it was in merger talks with Johnson & Johnson ( JNJ ).

iShares Dow Jones U.S. Medical Devices





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.


This article appears in: Investing, ETFs

Referenced Stocks: JNJ, STJ



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