In the stockapocalypse that was Manic Monday, medical technology and pharma stocks got a mere slap on the wrist compared with banking stocks that received a more humiliating pants-down whipping.
It appears that pharma stocks fared better than medical device and biotech stocks. GlaxoSmithKline (NYSE:GSK) was down a mere 28 cents to close at $39.44 on Monday. Pfizer (NYSE:PFE) was down 45 cents to $16.66. Abbott Laboratories (NYSE:ABT), however, fared a little bit worse with its share price falling by $1.24 to close at $48.06.
In the world of medical devices, Boston Scientific (NYSE:BSX) came home least battered with its share price falling only 29 cents to close at $6. However, its single-digit stock price doesn’t really afford much comfort. Medtronic (NYSE:MDT) and St. Jude Medical (NYSE:STJ) both had reductions of more than $2 each to their share prices, which fell to $31.07 and $41.12 respectively. Stryker (NYSE:SYK) closed at $47.43 after a drop of $1.51, while Zimmer (NYSE:ZMH) was at $53.90, down $1.76.
Biotechnology stocks like Amgen (NASDAQ:AMGN) was cut to $49.88, a decline of $1.78 . Gilead Sciences (NASDAQ:GILD) slid only 22 cents to close at $36.82, while Biogen Idec (NASDAQ:BIIB) took a bigger hit dropping $3.29 to finish at $88.
These are just a sampling of some stocks in each sector and how they survived Manic Monday. Feel free to add how other stocks weathered the maelstrom in the comments section.
By Arundhati Parmar
Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.More posts by Author
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