Why Nordion (NDZ) Stock Hit a One-Year High Today (Update)

Update (4:15 p.m.): Updated with Monday market close information and one-year high price.

NEW YORK (TheStreet) -- Nordion  (NDZ) rose more than 10% to a one-year high of $11.62 on Monday after news that Sterigenics acquired the isotope supplier for $727 million.

The deal is for $11.75 a share; Nordion closed at $11.53 on Monday.

"This transaction delivers value to our shareholders and is a good strategic fit for Nordion", said Nordion CEO Steve West. "We believe this partnership is beneficial to Nordion's employees and our customers, as Nordion and Sterigenics combine their global expertise, industry knowledge and the same focus on high quality standards and values. This transaction also marks the successful completion of Nordion's strategic review."

Nordion is one of the world's leading producers of molybdenum-99, an isotope used for medical imaging. 

The stock closed up 10.76% to $11.53, up $1.12 from its previous close of $10.41, on Monday. More than 29 million shares changed hands, more than 10 times its average volume of 254,277. The stock hit a low of $11.50 for the day and holds a one-year low of $6.56.

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TheStreet Ratings team rates NORDION INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate NORDION INC (NDZ) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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