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Stock for Medical Device Maker Guidant Rises as Stent Recall Seems Limited.
Knight Ridder/Tribune Business News, October, 2003
By Jeff Swiatek, The Indianapolis Star Knight Ridder/Tribune Business News
Oct. 10--Guidant Inc.'s stock price jumped $2.10 a share in trading Thursday, to $47.05, after investors found out that a stent recall revealed Wednesday is of limited scope.
"It does not sound like it was a broad-based recall. It seemed like the impact was fairly limited," said Stephen A. O'Neil, a health industry analyst for J.J.B. Hilliard, W.L. Lyons investment firm in Louisville, Ky.
The Indianapolis medical device firm announced the voluntary worldwide recall of some manufacturing lots of one of three sizes of its newest heart device, the Multi-Link Vision stent. Guidant's stock price fell 78 cents Wednesday, with most of the decline happening late in the...
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