The Patient Protection and Affordable Care Act, also known as Obamacare, can be seen as a double-edged sword for the Medical Device Industry. On one hand it imposes a 2.3% medical-device excise tax on gross sales of taxable devices reducing profits for companies across the board, but on the other it is expected to create a new market of millions of previously uninsured Americans. For the most part, larger companies have done an admirable job of absorbing the tax through restructuring efforts. "Where it is a little more onerous is with the smaller companies," said Matt Taylor, a medical device analyst with Barclays. "It is a tax on sales, if you're a growing company that isn't making a profit, that could be harder to offset."
Boston Scientific Corporation (NYSE: BSX) shares traded in the range of $10.96 to $11.12 Tuesday before settling to close at $11.01, an increase of 0.18 percent. The stock appears to be facing some resistance at the $11.08 and $11.34 levels with some support at $10.44. Shares of Boston Scientific have gained approximately 92.0 percent in 2013.
More information on Boston Scientific and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BSX
Medtronic, Inc. (NYSE: MDT) shares traded in the range of $52.40 to $53.14 Tuesday before settling to close at $52.83, a decrease of 2.35 percent. The stock appears to be facing some resistance at the $53.52 and $53.96 levels with some support at $52.91. Shares of Medtronic have gained approximately 28.0 percent in 2013.
More information on Medtronic and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MDT
St. Jude Medical, Inc. (NYSE: STJ) shares traded in the range of $51.19 to $52.25 Tuesday before settling to close at $52.09, an increase of 1.26 percent. The stock appears to be facing some resistance at the $52.67 and $55.41 levels with some support at $49.88. Shares of St. Jude Medical have gained approximately 44.0 percent in 2013.
More information on St. Jude Medical and access to the free equity report can be found at:
www.WallStreetFundamentals.com/STJ
Stryker Corporation (NYSE: SYK) shares traded in the range of $67.56 to $68.53 Tuesday before settling to close at $68.25, an increase of 0.28 percent. The stock appears to be facing some resistance at the $68.62 and $69.52 levels with some support at $67.78. Shares of Stryker have gained approximately 44.0 percent in 2013.
More information on Stryker and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SYK
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact:
Wall Street Fundamentals
Website: www.WallStreetFundamentals.com
Email: editor@wallstreetfundamentals.com