Proposed government changes that would cut federal Medicare reimbursements to hospitals for costly heart implants sent shares of device makers tumbling in Thursday trading.
The move weighed on shares of major coronary device manufacturers, with stent maker Boston Scientific Corp. down 64 cents, or 2.9 percent, to $21.52. Guidant Corp., which is being acquired by Boston Scientific, was also 89 cents lower at $77.88.
Mechanical heart valve maker Saint Jude Medical Inc. dropped $1.20, or 3.3 percent, to $35.65, and defibrillator and pacemaker firm Medtronic Inc. lost $1.03, or 2 percent, to $50.01. Johnson & Johnson, which also makes stents, slipped 4 cents to $57.83.
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