XLV - Medical equipment makers drag healthcare sector

Hurt by the underperformance of several medical device makers on Wednesday, the S&P 500 Healthcare Index has lagged all but one sector in the benchmark index. Notable decliners include, ResMed (RMD -6.8%), Edwards Lifesciences (EW -4.2%), Boston Scientific (BSX -3.7%), and Stryker Corporation (SYK -4.0%). Intuitive Surgical (ISRG -2.9%), Medtronic (MDT -2.5%) and DexCom (DXCM -2.5%) are also trading lower. The selloff comes despite the recent weakness of healthcare equipment makers. As indicated in this graph, the iShares U.S. Medical Devices (IHI -2.3%) has dropped ~11% in the year so far, compared to ~4% decline in the Health Care Select SPDR ETF (XLV -1.3%), which represents a broad spectrum of healthcare stocks in the S&P 500.

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Medical equipment makers drag healthcare sector