On Friday, the U.S. Food and Drug Administration announced that medical devices in sold in the U.S will now require a unique code, identifying its make, manufacture date and lot number. AdvaMed, an industry group that represents manufacturers such as Medtronic Inc., Boston Scientific Corp. and Abbot Laboratories, believes that the new system "will be costly and challenging endeavor, affecting all medical technology manufacturers. It is imperative that it is implemented correctly the first time." Here is how some medical device companies reacted Friday:
Abbott Laboratories (NYSE: ABT) shares traded in the range of $35.21 to $35.47 Friday before settling to close at $35.29, a decrease of 0.14 percent. The stock appears to be facing some resistance at the $35.74 and $36.29 levels with some support at $34.98.
More information on Abbott Laboratories and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ABT
Boston Scientific Corporation (NYSE: BSX) shares traded in the range of $11.62 to $11.85 Friday before settling to close at $11.63, a decrease of 0.94 percent. The stock appears to be facing some resistance at the $11.76 and $12.09 levels with some support at $11.35. Shares of Boston Scientific have gained over 100.0 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 $53.65 to $54.30 Friday before settling to close at $53.71, a decrease of 0.54 percent. The stock appears to be facing some resistance at the $54.76 and $55.60 levels with some support at $53.70. Shares of Medtronic have gained over 30.0 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 $53.58 to $54.14 Friday before settling to close at $53.67, a decrease of 0.41 percent. The stock appears to be facing some resistance at the $53.73 and $55.83 levels with some support at $52.59. Shares of St. Jude Medical have gained approximately 48.0 percent in 2013.
More information on St. Jude Medical and access to the free equity report can be found at:
www.WallStreetFundamentals.com/STJ
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