Sector Snap: Medical Device Makers

NEW YORK (AP) — Shares of medical device makers moved modestly in Thursday trading, a day after President Obama outlined his case for health care reform in a televised address before Congress.

Reform efforts may not have a large impact on the industry, as many implantation procedures are covered by Medicare or Medicaid. Shares of medical device makers have generally done well this year, with Boston Scientific Corp. stock up almost 50 percent, and shares of Medtronic Inc., Zimmer Holdings Inc. and St. Jude Medical Inc. up around 20 percent.

Shares of Johnson & Johnson slipped 23 cents to $60.69. The New Brunswick, N.J., company is one of the largest health care companies in the U.S., and makes drugs and a range of other products. Its shares have picked up less than 2 percent this year, versus a gain of 14 percent in the benchmark S&P 500 index over the same time.

Medtronic stock lost 4 cents to $39.02. The company is headquartered in Minneapolis and is the world's largest medical device company.

Shares of Natick, Mass.-based Boston Scientific rose 21 cents to $11.67.