Medical Device Company Stocks Fall After Supreme Court Upholds Obamacare

“Shares of medical device companies were mostly lower Thursday after the Supreme Court upheld the 2010 health care overhaul law.

In a highly anticipated decision, the court ruled the health care law is Constitutional by a 5-4 majority. The vote upheld almost the entire the law, including a provision that requires most people to have health insurance or will have to pay a fine.

FBR Capital Markets analyst Benjamin Salisbury said the ruling was a surprise because many people expected the insurance mandate to be overturned. He said the ruling “is likely to be viewed most negatively for medical device manufacturers” because the law includes an excise tax on medical devices that goes into effect in January.”

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