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IHI Rose Marginally to Outperform SPY on October 12



IHI gained 0.15%

The iShares US Medical Devices ETF (IHI) gives exposure to the companies that manufacture and distribute medical devices. It tracks the Dow Jones U.S. Select Medical Equipment Index. It has an expense ratio of 0.43% and includes 60 stocks in its portfolio. On October 12, 2015, IHI rose by 0.15% to close at $115.35. The broader market SPDR S&P 500 ETF (SPY) rose by 0.09%.

The above graph reflects the performance of IHI and SPY on a day-to-day basis since October 5, 2015.

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St. Jude Medical rose 2.5%

St. Jude Medical (STJ) rose 2.5% on October 12, 2015. The stock went up on the news that it received CE Mark approval for “the HeartMate 3 Left Ventricular Assist System, a cardiac support option for advanced heart failure patients who are awaiting transplantation, are not candidates for heart transplantation, or are in myocardial recovery.”

STJ closed at $65.39 and was trading above its 20-day moving average, but below its 50-day and 100-day moving averages. The stock’s 14-day RSI (relative strength index) stood at 48, indicating the stock is neither overbought nor oversold. At its current market price, STJ is trading at 17.4x of its trailing-12-month price-to-equity multiple. The stock’s price-to-book value (or PVB) stood at 4.8x. STJ makes up 3.7% of IHI’s portfolio.

The other stocks that rose were Stryker (SYK) and Becton Dickinson and Company (BDX) with returns of 1.7% and 1.1%, respectively.


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