Today’s steep stock market selloff notwithstanding, two players in the health care sector are bucking the downward trend and rallying to all-time highs.
Medical device maker Covidien (NYSE:COV) posted better-than-expected earnings and revenue last quarter, boosted by strong sales of surgical staplers. And McKesson (NYSE:MCK) is getting a lift after the drug distributor proved successful in its second attempt to acquire German rival Celesio. Analysts cheered the move, with Credit Suisse raising its price target on MKC to $200 from $189:
Health Care Record Highs