Spectranetics' Stock Tops Most-actives List After Buyout Deal

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of Spectranetics Corp. rocketed 26% to record territory in very-active morning trade Wednesday, after the medical device maker agreed to be acquired by Royal Philips NV in a deal valued at about $2.15 billion. Volume topped 12.5 million shares about 10 minutes after the open, compared with the full-day average of about 460,000 shares, and enough to make it the most actively trade stock on major U.S. exchanges. The stock traded 5.2% above the previous record close of $36.44 on March 18, 2015. Spectranetics' stock had run up 24.0% year to date through Tuesday, while the SPDR Health Care Select Sector ETF had climbed 15.5% and the S&P 500 had gained 8.1%.

More from FOXBusiness.com...

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.