A sharp rally in St. Jude Medical (NYSE: 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 (NYSE: JNJ).
iShares Dow Jones U.S. Medical Devices
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