Med Stocks Mixed After Panel Votes To Ax Obamacare Tax

MarketWatch Pulse

Shares of medical device makers were mixed after the House Ways and Means Committee voted Tuesday to eliminate an excise tax on the industry, a provision that has been part of the Affordable Care Act since its inception. The 2.3% tax on devices such as pacemakers and stents has been skewered by Obamacare opponents as well as some who have supported the massive health reform measure. Shares of Medtronic Inc. went from slightly negative to slightly positive territory, while St. Jude Medical Inc. and Boston Scientific Corp. were off marginally. Baxter International was up slightly as was Stryker Corp. The measure still has to go to the full House and then the Senate before it reaches President Obama's desk.

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