Medtronic Inc posted a quarterly profit that was in line with analyst expectations, helped by sales of new heart devices, and said its $42.9 billion purchase of hospital products maker Covidien Plc remains on track to close early next year.Changes in U.S. tax rules aimed at curbing a spate of so-called tax inversion acquisitions have caused investors to question whether the deal would proceed after companies such as drugmaker AbbVie Inc and Irish competitor Shire Plc dropped plans to merge.But Medtronic executives said they remain fully committed to buying Dublin-based Covidien and are focused on integration planning."We changed our financing, but we didn't change our plan to go forward with the transaction. It didn't affect us as much as the other companies," Medtronic Chief Financial Gary Ellis said in an interview.
AbbVie Inc. (AbbVie) is a research-based pharmaceuticals company. Shares of ABBV traded higher by 1.18% or $0.765/share to $65.80. In the past year, the shares have traded as low as $45.50 and as high as $65.41. On average, 13301600 shares of ABBV exchange hands on a given day and today's volume is recorded at 2134242.
Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Shares of COV traded higher by 3.21% or $3.04/share to $97.65. In the past year, the shares have traded as low as $65.49 and as high as $95.29. On average, 4796750 shares of COV exchange hands on a given day and today's volume is recorded at 2238051.
Medtronic, Inc. (Medtronic) is a medical technology company. Shares of MDT traded higher by 3.89% or $2.69/share to $71.88. In the past year, the shares have traded as low as $53.33 and as high as $69.64. On average, 8624070 shares of MDT exchange hands on a given day and today's volume is recorded at 6547003.
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