Manufacturers of medical devices received a boost Monday after Morgan Stanley analysts named health care stocks as their "top overweight" in the market. Shares of Boston Scientific Corporation reached a four-year high after being named Morgan Stanley’s top pick in the sector and upgraded to "overweight" from "equal weight", Abbott Laboratories and St. Jude Medical Inc. were also upgraded to "overweight". Additionally, shares of Medtronic, Inc. hit an eight-year high after receiving an "overweight" upgrade from JPMorgan.
Abbott Laboratories (NYSE: ABT) shares traded in the range of $39.11 to $39.69 Monday before settling to close at $39.15, an increase of 1.32 percent. The stock appears to have some support at the $39.11, $38.76 and $38.26 levels. Shares of Abbott Laboratories have gained approximately 18.0 percent in the past year.
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Boston Scientific Corporation (NYSE: BSX) shares traded in the range of $12.20 to $12.55 Monday before settling to close at $12.33, an increase of 3.35 percent. The stock appears to be facing some resistance at $12.42 with some support at the $12.06 and $11.76 levels. Shares of Boston Scientific have gained approximately 105.0 percent in the past year.
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Medtronic, Inc. (NYSE: MDT) shares traded in the range of $58.90 to $59.77 Monday before settling to close at $59.22, an increase of 1.51 percent. The stock appears to have some support at the $58.86, $58.59 and $58.17 levels. Shares of Medtronic have gained approximately 38.0 percent in the past year.
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St. Jude Medical, Inc. (NYSE: STJ) shares traded in the range of $62.18 to $64.15 Monday before settling to close at $63.64, an increase of 4.0 percent. The stock appears to be facing some resistance at $63.74 with some support at the $61.96 and $60.95 levels. Shares of St. Jude Medical have gained approximately 70.0 percent in the past year.
More information on St. Jude Medical and access to the free equity report can be found at:
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